Instructions

Listed below are words and phrases describing the roles and responsibilities of both internal and external auditors. Consider whether each word or phrase best describes the roles and responsibilities of internal auditors or the roles and responsibilities of external auditors.

a)	Employees of the company	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
b)	Audit work is narrowly focused on the annual report and financial statements	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
c)	Assist shareholders with their information asymmetry problem	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
d)	Limited independence	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
e)	Assess the integrity and accuracy of reporting and internal control systems	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
f)	Must be qualified accountants	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
g)	Assess the effectiveness of risk management, control and governance procedures	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
h)	Work governed by International Standards on Auditing	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
i)	Appointed by the shareholders	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
j)	Wide ranging remit	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
k)	Report in true and fair terms	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
l)	Expert knowledge of the Companies Act 2006 and IFRS disclosure requirements	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
m)	Focus on improving and enhancing all business activities	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
n)	Report on the financial statements prepared by the directors	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
o)	Report to the audit committee	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
p)	Aim to add value to an organisation and its activities	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
q)	Completely independent of the company	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
r)	Focus on current operations not on the past	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
s)	Not employed by the company	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
t)	Proactive	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
u)	Report directly to the shareholders	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors
v)	Organisational improvement aim	Choose... Roles and responsibilities of internal auditors Roles and responsibilities of external auditors

 

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