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Vismay ShahVismay Shah asked 1 year ago

Sir what is the difference between internal audit functions and the responsibility of internal auditor/ functions of an internal auditor? because all these seem similar to me but the answer given is different for all these 3 questions.

In CNO 103.1, case study no. 3, the answer given (corrected by you through the discussion area) is different from the Internal auditor’s functions specifically given under the Internal Audit chapter but here in this chapter also 2 answers given (one that is come from the definition/scope/ objective and second is under the heading of “review of management functions by the internal auditor”

Sir, please help me to understand which answer ICAI is asking?

1 Answers
RaviRavi Staff answered 1 year ago

Evaluating Internal Audit Function — Whether internal auditor & is way of working good enough to think about using his work
Responsibility of Internal Auditor / Function of Internal Auditor — Scope of work which internal auditor can do during internal audit process as per understanding with management
See this link for latest edition CNO 103.100

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