ACCT405 - Internal Audit and Management

This unit explores the role of internal auditing in evaluating risk management, control systems, and governance. Students learn how audits support management decision-making, improve efficiency, and ensure compliance with policies and regulations.

Q1. What is the primary purpose of internal auditing?
Ans. Internal auditing provides independent assurance that an organization’s risk management, governance, and internal control processes are effective. 

Q2. How does internal audit support management decision-making?
Ans. By evaluating processes, detecting inefficiencies, and ensuring compliance, internal audit supplies management with reliable data and recommendations. This enables informed decisions that enhance performance and reduce risks.