An XYZ Real Estate Ltd. is a company offering estate agency services to the public through a network of branches all over the country. The board consists of six people, a part-time chairman, a chief executive, two other full time executives and two representatives of the owners. The company is jointly owned by a foreign bank and the City Property Group. The company has an internal audit department consisting of Sanjeev is a young chartered accountant and Rajeev who is an accounting expert. They have also a secretary, Ritwika. They report their activities monthly in detail to the audit committees of the foreign bank and the City Property Group.
Q1. What work would the internal audit department do?
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