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Question - The Chimwaikila group of companies which runs farms, educational institutions, fish farming and supplies food to two mission hospitals has opted to employ a full time internal auditor. This has not settled well with some of the shareholders of the group of companies. Further some employees feel it's unnecessary additional cost.
Required -
a. Explain five major purposes of the internal auditor.
b. Elaborate five ways the internal auditor will keep his independence since he will be auditing the firm he is employed.
Financial Statement Analysis and Preparation
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