Question: What services might the internal audit function provide in lieu of performing an assurance engagement? Services that an internal audit function can provide in lieu

What services might the internal audit function provide in lieu of performing an assurance engagement?

Services that an internal audit function can provide in lieu of performing an assurance engagement are, evaluating and testing various risk management activities, and assessing areas of risk that are not currently included in the governance process. Internal auditors need to fully understand the boards direction, support managements risk and develop an appropriate audit plan.

Kindly briefly explain these points.thank you

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