Question

Internal audit is the indepedent appraisal activity within an organization for the review of
X - Accounting Practices
Y - Financial Practices
Z - Business Practices
The correct answer would be ___________.

• A. X and Y
• B. Y and Z
• C. X and Z
• D. X, Y and Z

Answer 1

The correct option is D X, Y and Z

Internal Audit is conducted to have a check on internal control system of the organization. Internal Audit helps in detection and prevention of frauds.

The objective of internal audit is to have an independent appraisal of accounting, financial activity along with the review of business practices.