To Operate Effectively, Internal Auditors Must Be

question 69

Multiple Choice

To operate effectively, internal auditors must be:

• A) contracted by the organisation subject to audit.
• B) independent of the line functions within an organisation.
• C) members of either the Institute of Chartered Accountants in Australia or CPA Australia.
• D) registered with ASIC and meet minimum professional development requirements.

---

Definitions:

Plaster

A building material composed of water, lime, and sand, used for coating walls and ceilings or for creating architectural decorations.

Labor

The physical and mental effort used in the production of goods and services by workers.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity of that good supplied by producers, achieving a state of market balance.

Marginal Cost

The additional cost incurred to produce one more unit of a good or service.