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Explain what are the different functions of internal audit?

Question Posted / nagaraju


Explain what are the different functions of internal audit?..

Answer / Mohit Madaan

Internal Audit plays a critical role in organizations by providing independent, objective assurance and consulting services. Some of its primary functions include: 1. Evaluating and improving the effectiveness of risk management, control, and governance processes. 2. Promoting compliance with laws, regulations, and policies. 3. Identifying and addressing fraud, errors, and inefficiencies. 4. Providing objective analysis and recommendations for business improvement.

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