Internal auditors fall into two primary categories?assurance services and consulting services. Briefly explain these two categories in relation to internal auditors.
What will be an ideal response?
a. Assurance services involve the internal auditor's objective assessment of evidence to provide an independent opinion or conclusions regarding a process, system, or other subject matter. The nature and scope of the assurance engagement are determined by the internal auditor.
b. Consulting services are advisory in nature, and are generally performed at the specific
request of an entity. The nature and scope of the consulting engagement are subject to
agreement with the entity.
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