What is Internal Audit?

Question

Accepted Answer

Internal Audit is a process that evaluates and improves the effectiveness of an organization's risk management, control, and governance processes.

Internal Audit is an independent and objective assurance activity.
It helps organizations accomplish their objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Internal auditors provide insights and recommendations to management based on their assessments.
They assess the reliability and integrity of financial and operational information, the effectiveness and efficiency of operations, and compliance with laws and regulations.
Examples of internal audit activities include reviewing financial statements, evaluating internal controls, assessing operational processes, and identifying areas for improvement.

Accepted Answer

AN INTENAL AUDIT CHECKS A COMPANY ‘S INTERNAL CONTROLS..

Top SBI General Insurance Assistant Manager Internal Audit interview questions & answers