Of the four types of management objectives (strategic, operations, reporting, and compliance), where does internal audit...

Of the four types of management objectives (strategic, operations, reporting, and compliance), where does internal audit generally spend the least amount of time? Why?

Expert Solution

Management of each organization must have some objectives. These are described below:

Strategic: this is the objective of top management which fulfills entity’s mission.

Operation: this is the object of better use of factors of production (land, labor, capital, and organization).

Reporting: this is the objective of protecting stakeholders’ interest by providing reliable information.

Compliance: this is the object of fulfilling legal formalities.

Out of these four, an auditor least bother of strategic objective because it is the sole discretion of top management and there should not be any involvement of internal auditor. Top management rather used to appoint an internal auditor to see whether the other three objectives are fulfilled or not. They usually believe that if these are fulfilled then the strategy becomes correct. Therefore, there should be least time of involvement by an internal auditor in strategic objective.

ekkarill92 answered 1 year ago

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