Question

Which of the following is not a part of the role of internal auditors?

a) Conducting financial audits
b) Assessing risk management processes
c) Developing marketing strategies
d) Evaluating internal controls

Answer 1

Internal auditors focus on conducting financial audits, assessing risk management processes, and evaluating internal controls. Developing marketing strategies is not part of their role and is usually the responsibility of the marketing department.

Step-by-step explanation:

The role of internal auditors is crucial for ensuring that an organization's governance, risk management, and control processes are operating effectively. Internal auditors perform several important functions within an organization, including:

• Conducting financial audits to ensure accuracy and compliance with accounting standards and regulations.
• Assessing risk management processes to evaluate the effectiveness of the organization's strategies in identifying, managing, and mitigating risks.
• Evaluating internal controls to determine whether they are adequate and functioning properly to safeguard the organization's assets.

However, developing marketing strategies is not typically a part of the role of internal auditors. Marketing strategy development is generally a function of the marketing department or external consultants specialized in marketing and business strategy.