What Is the Primary Difference Between Internal and External Auditors

question 19

Multiple Choice

What is the primary difference between internal and external auditors?

• A)the methodology used to conduct financial statement audits
• B)the level of competence required
• C)the parties to whom the auditor is responsible
• D)the level of objectivity required

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Definitions:

Limestone

Limestone is a sedimentary rock composed mainly of calcium carbonate, used in the construction industry and for producing lime, cement, and other materials.

Ambrosia

In mythology, the food or drink of the gods, often depicted as conferring immortality; in the modern context, it can refer to something extremely pleasing to taste or smell.

Red-money Income

Is not a standard economic term and may refer to disposable income after taxes, but without an established definition, it's speculative.

Trust

A firm belief in the reliability, truth, ability, or strength of someone or something, often considered fundamental in social, economic, and political relationships.