ACCA Audit and Assurance (F8) Practice Exam 2025 – The Complete All-in-One Guide to Achieve Exam Success

The role of the internal audit function is fundamentally about evaluating and improving the effectiveness of an organization's internal controls, risk management, and governance processes. This involves conducting systematic assessments to ensure that the control systems in place are functioning as intended and providing reliable information for management and the board.

The internal audit function identifies areas for improvement by reviewing existing processes and controls, ensuring compliance with regulations, and assessing the risk environment of the organization. By doing so, it helps safeguard organizational assets, improve operational efficiency, and enhance overall governance.

Other potential roles, such as preventing employee misconduct, managing marketing strategies, or determining executive salaries, fall outside the scope of internal audit. While internal audits may highlight issues related to misconduct or suggest ways to improve operations, their primary function is not to prevent these issues outright. Each of those roles would typically be aligned more closely with other functions within the organization, such as human resources or marketing departments.