The General Standards for the Professional Practice of Internal Auditing

question 55

Multiple Choice

The general standards for the professional practice of internal auditing include the following:
-The director of internal auditing should have a statement of purpose, authority, and responsibility for the internal auditing department.
_____

• A)Independence,
• B)Professional Proficiency,
• C)Scope of Work,
• D)Performance of Audit Work, and
• E)Management of the Internal Auditing Department.

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Definitions:

Rent Controls

are government-imposed limits on the amount landlords can charge tenants for rent.

FICA Tax

The FICA tax is a United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

Tax Burden

The total amount of taxes that individuals or businesses must pay, often considered in relation to their income or profits.

Payroll Tax

Obligatory payments required from employers or employees, usually expressed as a proportion of the salaries employees receive.