INTERNAL AUDIT: For each statement below from the IIA, identify both the ‘pros’

and ‘cons’ of these policies for their employer, for society or even for themselves.

a The IIA believes that the internal auditor should actively seek out indicators of fraud representations.

b Per the IIA, internal auditors are expected to have knowledge equivalent to that of a person whose primary responsibility is to detect and investigate fraud.

c The IIA believes that the external auditor should inform the internal auditor if potential or actual fraud exists.