Question

Internal audit is considered as 'eyes and ears of board into the organization.

In such case, how do you maintain its independence and objectivity?​

Answer 1

Answer:

Internal auditing is an independent, objective assurance and consulting activities designed to add value and improve an organisation's operations

ACHIEVING OBJECTIVES

for the most part , companies are in business to make money. schools, charities, and other non profit organisations may have the goal of educating, influencing behaviour, aur helping those less fortunate. and then there are government organisations, which exist to protect and serve the citizens in their jurisdiction.

Answer 2

Internal audit maintains its independence and objectivity by the formation of a dual reporting relationship with the management.

• Internal Audit is a department within an enterprise responsible for delivering objective, impartial evaluations of procedures, corporate entities, and processes.
• Auditors must not have any association either professional or personal in the auditing area and must preserve a fair and unbiased attitude towards all. This ensures objectivity
• It is important to maintain independence of the internal audit operation through the dual reporting relationship with the management and the highest supervisory group of the enterprise.
• Internal auditors should have as appropriate access to documents and staff, and should be allowed to use suitable sampling techniques without impediment.