The Final Phase of an Operational Audit Is for the Auditor

question 102

True/False

The final phase of an operational audit is for the auditor to report the findings to management.

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Definitions:

Legislation

Laws enacted by a government or legislative body to regulate, authorize, sanction, grant, declare or restrict.

Debt

An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, often with interest.

Contract Law

The legal framework that oversees the creation, execution, and understanding of contracts between individuals or entities.

Business Person

An individual who operates a business or enterprise, taking on greater than normal financial risks in order to do so.