FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Is an organization’s internal audit function part of its system of internal controls? If your answer is yes, explain how the internal audit function can evaluate the design adequacy and operating effectiveness of internal controls and at the same time remain independent of the organization’s system of internal controls. If your answer is no, explain the internal audit function’s role relative to the organization’s system of internal controls.
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