Which of the following best describes internal auditors' responsibilities regarding their entity's policies, plans, procedures and applicable laws and regulations? Internal auditors:
A)have a responsibility to develop appropriate policies, plans and procedures, and they are responsible for monitoring compliance with all applicable laws and regulations.
B)have no responsibility regarding these matters because becoming involved with them would make internal auditors members of management.
C)are responsible for evaluating whether the systems are adequate and effective and whether the activities that are audited comply with appropriate requirements.
D)are only responsible for compliance with policies, plans, procedures, laws and regulations that apply to internal audit.

Question

Quizplus · Accepted Answer

Internal auditors are responsible for evaluating whether the systems are adequate and effective and whether the activities that are audited comply with appropriate requirements. While they do not develop policies and plans, they do evaluate whether they are appropriate and effective. Additionally, internal auditors are responsible for ensuring compliance with applicable laws and regulations. It is also important to note that internal auditors are independent and objective, and should not become involved in management decision-making.

Which of the Following Best Describes Internal Auditors' Responsibilities Regarding