Question

Internal audit is helpful in _______________.

• A. prevention of errors and frauds
• B. detection of errors and frauds in internal control system
• C. auditing items in depth
• D. all of these

Answer 1

Answer: (B)

detection of errors and frauds in internal control system

The role of internal auditor is of detection of frauds and errors. Internal auditor helps management to establish the culture that ensures ethics, honesty and integrity. They assist management with the evaluation of internal controls used to detect and mitigate the frauds.