In my Kaplan book it talks about IT Audit and Operational Audit. Would these Audit functions report to the Audit Committee or are they just saying that as well as the financial internal audit there’s also other internal audit departments? Slightly confused by this chapter!!!
I’m not very sure what they mean be operational audit, perhaps a department that audits quality control adherence,. For F8 you really only need to know about IA. That should report to the Audit Committee.