QUESTION $2(25$ Marks$)$

$2\mathrm{.}1.$ Define the term internal audit and explain its relevance to an organisation? $(8$ marks$)$

$2\mathrm{.}2.$ Briefly list the inherent limitations of internal controls? $(6$ marks$)$

$2\mathrm{.}3.$ Discuss the advantages$/$benefits of good internal controls in an organisation? $(11$ marks$)$