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an internal auditing activity to management?
A. Assurance that published financial statements are correct.
B. Assurance that fraudulent activities will be detected.
C. Assurance that the organization is complying with legal requirements.
D. Assurance that there is reasonable control over day-to-day operations.
For Banks & Micro Finance;
C. Assurance that the organization is complying with legal requirements.
for Companies & Corporate Sector
B. Assurance that fraudulent activities will be detected.
Detection of Fraudulent Activiies
To check the proper compliance of bye laws
Reasonable control over day to day operations
Option C as it gives Senior Management of an organisation the comfort that they are operating within legal boundaries in its jurisdication.
Answer C is suitable to Banks
Answer D is suitable to other companies
B. Assurance that fraudulent activities will be detected
Option "d" is the most important objective/ benefit of an internal audit.
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