The importance of managing the internal audit function as part of an organization's component is divided into three main criteria which are staffing, managing internal audit conflicts and outsourcing. These functions are important and necessary in ensuring that an internal auditor functions effectively and efficiently as well as serves as an added value to the organization. The lack or failure to manage this function will have significant adverse effects on the organization's operations.

Required: a. Discuss two (2) importance of each of the following elements for staff development: i. training ii. promotion

(4 marks)

b. Discuss three (3) responsibilities of an audit supervisor.

(6 marks)