The Statement That Best Describes Internal Auditing Is

question 23

Multiple Choice

The statement that best describes internal auditing is:

• A) an activity located within an entity, primarily to detect fraud.
• B) an independent and objective assurance activity within an entity.
• C) an accounting function located within an entity.
• D) an activity to reduce risk.

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Definitions:

UCC

Refers to the Uniform Commercial Code, which is a broad collection of regulations that oversee all commercial dealings within the United States.

CISG

The International Sale of Goods Convention by the United Nations, a global treaty that creates a standardized structure for international trade.

Copyright

The protection of the expression of a creative work; i.e., protection of the fixed form that expresses the ideas.

UCC

Short for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.