8. Using the work of others

Question 1

8. What are 5 of the key roles of internal audit?

Answer 1

• • Monitoring of internal control.
• • Risk assessment process.
• • Corporate governance.
• • Review of operating activities.
• • Review of compliance with laws and regulations.

Question 2

8. Management and auditors may use specialists or experts sometimes. What’s the difference?

Answer 2

Specialists - usually IT or specific accounting areas

Experts - usually to examine something. such as law, assets