Solved: What is the responsibility of internal audit in reference, Accounting Basics

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What is the responsibility of internal audit in reference

1) What are the three dimensions of the COSO ERM framework? How are they interconnected? Discuss any one of them in detail.

2) What is the responsibility of Internal Audit in reference to Governance and Risk Management as detailed in the IIA Standards? What are different ways firms respond to an identified risk?

Please answer thoroughly (about 2-3 paragraph) and add link to any sources that were used. Feel free to ask any questions.

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Accounting Basics: What is the responsibility of internal audit in reference

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