The Key Issues for an External Auditor Evaluating a Client's

question 76

Multiple Choice

The key issues for an external auditor evaluating a client's internal audit function are the:

• A) timing and scope of internal audit's work.
• B) size of the internal audit function and its reporting independence.
• C) competence and professionalism of internal audit staff.
• D) quality of internal audit work and the independence of the internal audit function.

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Definitions:

Latent

Present but not visible, apparent, or actualized; existing as potential.

Retrovirus

RNA virus, containing the enzyme reverse transcriptase, that carries out RNA/DNA transcription.

Budding

A form of asexual reproduction in which a new organism develops from an outgrowth of a parent, common among yeast and some invertebrates.

Proteinaceous Infectious Particles

Also known as prions, these are misfolded proteins that can cause rare but fatal neurodegenerative diseases.