John will start working as an internal auditor next Summer. He is explaining what he thinks he will be doing to his friend who is an engineer. Internal auditors have a very important role in the company and report to the shareholders. Unlike external auditors, internal auditors focus on improvement in the company . As an internal auditor, I will be testing controls over financial reporting as well as effectiveness and efficiency of operations. I will also be involved in booking year-end adjusting entries. What is John right about and what is he wrong about?