Question: John will start working as an internal auditor next Summer. He is explaining what he thinks he will be doing to his friend who is

John will start working as an internal auditor next Summer. He is explaining what he thinks he will be doing to his friend who is an engineer. Internal auditors have a very important role in the company and report to the shareholders. Unlike external auditors, internal auditors focus on improvement in the company . As an internal auditor, I will be testing controls over financial reporting as well as effectiveness and efficiency of operations. I will also be involved in booking year-end adjusting entries. What is John right about and what is he wrong about? (4 marks

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