Define objectivity as it relates to the internal audit function.
b. For each of the five situations outlined, explain whether the objectivity of Lajod Company’s internal audit department has been materially impaired. Consider each situation independently.
c. The manager of audits reports to the corporate controller.
(1) Does this reporting relationship result in a problem of objectivity? Explain your answer.
(2) Would your answer to any of the five situations in requirement b have changed if the manager of internal audits reported to the audit committee of the board of directors? Explain your answer.*
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