The internal audit profession has emerged and has become active for all of the following reasons except:

Question

Quizplus · Accepted Answer

Management's need to delegate the responsibility of the financial statements is not a reason for the emergence and activity of the internal audit profession. The other options all relate to the need for internal audit to provide independent assurance and advisory services to organizations. Compliance with Section 404 of the Sarbanes-Oxley Act, increasing emphasis on effective procedures to detect or prevent fraud, and management's need for an objective appraisal of organizational or departmental performance all require the skills and expertise of internal auditors.

The Internal Audit Profession Has Emerged and Has Become Active