Question

Internal audit is a part of ___________.

• A. Statutory audit
• B. Annual audit
• C. Internal control
• D. Half yearly audit

Answer 1

The correct option is C Internal control

Internal Audit is conducted by internal auditor appointed by the company. Internal control is the overall responsibility of the management which includes to make efficient system of internal checks and balances so that one persons task may be validated by the other person in auto mode.

Internal Audit is always considered as part of internal control.