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      Question

        Internal auditor is removed and appointed by which

      among the following?
      A Management Correct Answer Incorrect Answer
      B Shareholder Correct Answer Incorrect Answer
      C Government Correct Answer Incorrect Answer
      D CAG Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Solution Internal auditor is removed and appointed by the management. An internal auditor can be a chartered accountant, a cost accountant, or another professional as decided by the company's board/management. He may be an employee of the company or a professional third party, who independently and objectively evaluates the organization’s operations. An internal audit is an independent assessment of a company's internal controls, risk management, and governance. The role of an internal auditor involves reviewing financial processes, identifying weaknesses, and suggesting improvements. An internal auditor essentially serves as the eyes and ears of the company’s senior leadership and board of directors.

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