The key benefit to management of there being an internal audit function is that It provides assurance to management that the organisation is complying with its legal requirements External audit costs are reduced It provides assurance to management that fraudulent activities will be detected It aids...

What are the key functions of an internal audit and how do they benefit the org ...

The key benefit to management of there being an internal audit function is that: It provides assurance

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The key benefit to management of there being an internal audit function is that:

It provides assurance to management that the organisation is complying with its legal requirements.
External audit costs are reduced.
It provides assurance to management that fraudulent activities will be detected.
It aids management in the areas of risk management, control and governance processes.