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:

Social Coercion Syndrome

A proposed condition characterized by the persistent experience of being compelled by social pressures or influences, leading to stress or conformity against one’s wishes. (Note: This term does not refer to a widely recognized syndrome in psychological or medical literature and might be hypothetical or context-specific.)

Auto-suggestion

A psychological technique involving self-induced suggestions that can influence one's thoughts, behaviors, and perceptions.

Social Concession

An act of yielding or accommodating in social contexts, often to maintain harmony or avoid conflict.

Ideal Self

An individual's conception of how they would like to be, embodying their goals and values.