_________Serves in a Unique Capacity as an Important Communication Link

question 236

Multiple Choice

_________serves in a unique capacity as an important communication link among external and internal auditors and operating management, and as a means of reducing the risk of management override of key elements of a public sector entity's internal control structure:

• A) The audit committee
• B) Cabinet committees
• C) Official committees
• D) Standing committees

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Definitions:

U.S. Financial System

The complex of institutions, including banks, securities markets, and regulatory agencies, that facilitate the flow of capital and financial services in the United States.

Central Bank

The primary institution responsible for managing a country's currency, money supply, and interest rates, with a role often including acting as the lender of last resort.

U.S. Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulation of banks, and providing financial services.

Financial Statements

Documents that present the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.