Which of the following is true of using internal audits to manage risk?

Question

Quizplus · Accepted Answer

The owner should provide sufficient authority to the auditor to ensure that he or she can accomplish the goals of the audit. Internal audits are conducted by employees or consultants within the organization and the owner should enable them to have the necessary autonomy and access to resources to effectively manage risk through the audit process. Option A is not true as not all small business owners conduct internal audits on their own. Option B is not true as internal audit structures are not fixed by the government, although they may have guidelines to follow. Option D is not true as the owner retains the final authority to approve the audit plan.

Which of the Following Is True of Using Internal Audits