Questions to be answered: (Internal auditing & Independent auditing compared) True or False. Write trwe if the statement is correct, or false if the statement is incorrect. If true explain why in at most two(2) sentences, and if false, correct the statement in at least one(1) sentence 4. The internal auditor is a company employee and a full-fledged CPA b. The main objective of the independent saditor is to fulfill the needs of the general public for reliable financial statements. c. Independent diting is also known as compliance auditing, d. Internal auditing is also known as operational auditing. e. BIR auditing is also known as compliance auditing. The internal auditor is directly concerned with the detection and prevention of fraud. 8. The independent woditor is also directly concerned with the detection of prevention of fraud, just like the internal audite, h. Independent auditing is a "broken activity, unlike internal auditing which is done continuously. 1. The internal saditor should be independent of the treasurer and chief accountars, but subservient to the needs of the other members of management Accounting internal control is synonymous to administrative Internal control. k. Bookkeeping is always a part of financial accounting m. Bookkeeping is sometimes a part of public accounting