The internal auditor's functions exist to support the other three representatives of an organization:
A) the board of directors, executive management, and the external auditor.
B) the board of directors, executive management, and the transactional accountant.
C) the transactional accountant, board of directors, and the external auditor.
D) the transactional accountant, executive management, and the external auditor.

Question

Quizplus · Accepted Answer

The internal auditor's functions are to provide independent and objective assurance and consulting services to support the board of directors and executive management in their responsibilities. Additionally, the internal auditor can support the external auditor by providing relevant and reliable information. Therefore, choice A is correct because it includes the board of directors, executive management, and the external auditor. Choices B and C are incorrect because they do not include the executive management, which is a fundamental stakeholder in the internal audit process. Choice D is incorrect because it excludes the board of directors, which is also a vital stakeholder in the internal audit process.

The Internal Auditor's Functions Exist to Support the Other Three