Accounting · Internal Audit
Which one of the following statements about internal audit is true?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The internal audit function must report directly to the finance director to preserve objectivity
- 2Internal audit is carried out solely for the benefit of external statutory auditors
- 3Internal audit is entirely separate from the organisation's internal control system
- 4Internal audit is an independent appraisal activity within an organisation✓
Correct answer
Internal audit is an independent appraisal activity within an organisation
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