Question

Internal audit is helpful in __________.

• A. audit in depth
• B. statutory audit
• C. internal check
• D. detection of errors and frauds

Answer 1

The correct option is D detection of errors and frauds

Internal Audit involve the systematic check of all the financial records of the organization to achieve the objective of the business. It is concern with evaluating and improving the effectiveness of risk management, control and governance processes in an organization.

Internal Audit is always helpful in detection of errors and frauds.