The General Standards for the Professional Practice of Internal Auditing

question 40

Multiple Choice

The general standards for the professional practice of internal auditing include the following:
-Internal auditors should collect, analyze, interpret, and document information to support audit results.
_____

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

---

Definitions:

Corporate Owner

An individual or entity that possesses ownership shares in a corporation, granting them certain rights and responsibilities.

Ownership Interest

A legal or beneficial right of possession or control over property, giving the holder certain enforceable rights.

Corporate Stock

Shares representing ownership in a corporation, with holders often entitled to receive dividends and vote on corporate matters.

Shareholder

A person or entity that owns part of a company through the possession of one or more shares of its stock.