What is internal audit

Question

Accepted Answer

Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

Internal audit is conducted by an internal audit department or team within an organization.
It evaluates and assesses the effectiveness of internal controls, risk management processes, and governance.
Internal audit provides recommendations for improvement and helps ensure compliance with laws, regulations, and policies.
It helps identify and mitigate risks, fraud, and inefficiencies.
Examples of internal audit activities include financial audits, operational audits, and compliance audits.

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The role of internal audit to provide independent Assurance

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Tha role of internal audit is to provide independent assurance

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The role of internal audit is to provide independent assurance that an organization's internal controls governance and risk management process or working

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Describe the practical aspect of internal audit with examples

What is internal audit

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