ACCA BT · Chapter 8 · Question 10 of 11
Which of the following describes the role of the audit committee in relation to internal audit?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) To approve the internal audit plan and review significant internal audit findings and management's response
Explanation
The audit committee oversees internal audit by reviewing its plan, resources and independence, and by considering its significant findings and management's response. The committee does not carry out the testing itself, does not sign the external audit report, and does not prepare management accounts.
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