The Key Benefit to Management of There Being an Internal

question 21

Multiple Choice

The key benefit to management of there being an internal audit function is that:

• A) It provides assurance to management that the organisation is complying with its legal requirements.
• B) External audit costs are reduced.
• C) It provides assurance to management that fraudulent activities will be detected.
• D) It aids management in the areas of risk management, control and governance processes.

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Definitions:

Flexor

A type of muscle that decreases the angle between bones on two sides of a joint, allowing limbs to be bent.

Epitrochlearis

A muscle in some mammals that assists in the movement of the forearm, not typically found or well-defined in humans.

Palmaris Longus

A muscle in the forearm that aids in flexing the wrist and tenses the palmar fascia.

Depress

To lower in amount, degree, or intensity; often used in terms of lowering mood or suppressing an activity.