Question 6 (1 point) The internal audit function is only effective when control tasks are properly performed. the results of an internal audit are reported to senior management and/or the companys owners. independent checks of performance are carried out on a regular basis. O reports are filed with the CICA. Question 7 (1 point) Which of the following BEST describes a bank reconciliation? OIt should be prepared whenever the bank refuses to lend the company money. It should be prepared by the person who is authorized to sign cheques. It should only be prepared when an employee is suspected of fraud. It should be prepared to explain any difference between the company's balance per books with the balance per bank