An internal auditor should ideally report to:
A) the chief finance officer.
B) the audit committee.
C) the ASIC.
D) the external auditors.

Question

Quizplus · Accepted Answer

The internal auditor should ideally report to the audit committee, which is responsible for overseeing the internal control processes and financial reporting of the organization. This ensures independence and objectivity in the internal audit function, as the audit committee is composed of independent directors who are not involved in the day-to-day operations of the company. Reporting to other entities such as the CFO, ASIC, or external auditors may create conflicts of interest and compromise the integrity of the internal audit function.

An Internal Auditor Should Ideally Report To