The internal auditor's functions exist to support the other three representatives of an organization:
A. the board of directors, executive management, and the external auditor.
B. the board of directors, executive management, and the transactional accountant.
C. the transactional accountant, board of directors, and the external auditor.
D. the transactional accountant, executive management, and the external auditor.
Answer:A
The internal auditor's functions exist to support the other three representatives of an organization:
A. the board of directors, executive management, and the external auditor. B. the board of directors, executive management, and the transactional accountant. C. the transactional accountant, board of directors, and the external auditor. D. the transactional accountant, executive management, and the external auditor.
Explanation: A) The internal auditor's function is to report on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safeguarded, and the level of compliance with a company's internal policies as well as external laws and regulations. This function exists to support the other three representatives of an organization: the board of directors (BOD), executive management, and the external auditor.