Final answer:
The most significant benefit provided by the audit committee to the internal audit activity is independence and objectivity.
Step-by-step explanation:
The most significant benefit provided by the audit committee to the internal audit activity is independence and objectivity. The audit committee acts as a safeguard against any potential biases or conflicts of interest that may compromise the integrity of the internal audit process.
The committee ensures that the internal auditors are free from undue influence and able to perform their duties without fear of retaliation or pressure from management. This independence allows the auditors to objectively assess the organization's financial statements, internal controls, and compliance with regulations.
Additionally, the audit committee provides guidance and oversight to the internal audit function, helping to enhance its effectiveness and efficiency. They can help prioritize audit activities, allocate resources, and ensure that audit findings are appropriately addressed.