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CS Professional · Internal and Forensic Audit · Emerging Issues and Challenges

Kaveri Pharma's internal auditor shifts from only checking past compliance to advising the board on emerging risks such as supply-chain disruption and cyber exposure, while keeping independence. This shift best reflects the trend toward:

The shift reflects a risk-based, forward-looking assurance and advisory role. Internal audit now helps the board anticipate emerging risks, not merely verify past compliance, provided the function preserves its independence and objectivity while advising.

  1. ARisk-based and forward-looking assurance and advisory roleCorrect
  2. BReplacing the audit committee with management
  3. CLimiting scope to financial statement verification
  4. DOutsourcing all assurance to the statutory auditor

Explanation

Modern internal audit moves from backward-looking compliance checks to risk-based, forward-looking assurance and advice. Limiting scope to financial verification is the traditional view and is the opposite of the trend described.

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