Examlex
An internal auditor finds during an engagement that payment for the organization's general insurance policy is two months overdue. The issue is informally mentioned to the finance department which immediately submits the invoice for payment. The auditor decides to exclude this finding from the final audit report as the oversight was immediately corrected and there were no consequences because of this late payment. Which of the following rules of conduct as described in the IIA Code of Ethics, did the auditor fail to uphold?
Cash Receipts
All cash inflows, representing money received by a business during a specific period.
Cash Disbursements
Money paid out by a business, including expenses, debt payments, and purchase of assets.
Cash Balance
The total amount of cash or cash equivalents available in a company's account at any given time.
Common Stock
Represents ownership shares in a corporation, granting shareholders voting rights and a share in the company's profits through dividends.
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