ACCA Strategic Business Leader (SBL) Practice Exam

Which of the following is NOT a core role of internal audit?

1. Safeguard assets

2. Marketing strategies

3. Management of risk strategies

4. Compliance with laws and regulations

The correct answer is: Marketing strategies

The role of internal audit is primarily centered around ensuring that an organization functions effectively and efficiently while adhering to laws and regulations, managing risks, and safeguarding its assets. Safeguarding assets involves implementing controls and monitoring processes to protect the organization’s physical and intangible resources from loss, theft, or damage. Compliance with laws and regulations is critical, as internal audits evaluate adherence to applicable laws, regulatory requirements, and policies, ensuring that the organization operates within legal boundaries. The management of risk strategies is essential to internal auditing as well; auditors assess risk management processes, ensuring that the organization identifies, evaluates, and mitigates risks effectively. In contrast, marketing strategies are not a core function of internal audit. While marketing is crucial for an organization’s growth and customer engagement, it typically falls under the purview of marketing departments and strategic planners, rather than internal audit, which focuses on financial, operational, and compliance aspects. Therefore, the option referring to marketing strategies does not align with the primary roles of internal auditing.