Day: March 21, 2026

Which ONE of the following roles should the internal audit function NOT take on to help the board in its management of the company and still operate effectively?

Select ONE answer:

1. Giving expert advice on technical accounting matters
2. Liaising with the external auditors
3. Carrying out the statutory audit
4. Auditing board reports not audited by the external auditors

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – it is the external auditors who have the legal duty to carry out the statutory audit. It is, however, usually encouraged that there is some co-operation between the internal and external auditors where this is possible.
4. Not correct

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