Asked by I'marii Willss on Jun 04, 2024
Verified
Internal auditors should be overseen by the head of the accounting department.
Internal Auditors
Professionals who conduct audits within an organization to assess the effectiveness, efficiency, and compliance of operational processes and controls.
Accounting Department
The division within a business that is responsible for managing the financial records, payroll, receivable and payable accounts, and financial reporting.
- Comprehend the elements and significance of systems for organizational control.
Verified Answer
MJ
Morgan JohnsonJun 05, 2024
Final Answer :
False
Explanation :
Internal auditors should not be overseen by the head of the accounting department as they need to maintain independence and objectivity in their work. They should report to a higher-level executive, such as the CEO or CFO, or to an independent audit committee.
Learning Objectives
- Comprehend the elements and significance of systems for organizational control.
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