Auditing · Internal Audit Functions

Which set of four statements regarding internal audit is CORRECT? A. Internal audit is an independent appraisal activity. B. Internal audit is carried out solely for the benefit of shareholders. C. The internal audit function should report directly to the Audit Committee / Board of Directors. D. Internal auditors are appointed by the Audit Committee / Board of Directors. E. The scope of internal auditors' work is strictly prescribed by legislation. F. The need for internal audit depends entirely on the number of employees. G. The internal audit department should not get involved in operational management activities.