13)

Which of the following is not true about Internal Audit

The scope is decided by the Board of Directors

It is conducted by the employees of the company

The auditor is appointed by the Management

It is performed by a separate internal auditing department.

14)

Internal control system is effective in managing risk, who is responsible to ensure the effectiveness:

Chief Executive Officer

Auditor

Management

Audit Committee

15)

Professional or regulatory monitoring and disciplinary procedures, helps to

Ensure that management is bias

Protect the interest of the management

Protect the dangers to fundamental principles

Protect the interest of the employee