Which of the Following Best Ensures an Internal Audit Activity

question 81

Multiple Choice

Which of the following best ensures an internal audit activity has the ability to render impartial and unbiased assessments?

• A) Organizational status and objectivity.
• B) Supervision of the chief audit executive (CAE) by senior management.
• C) Organizational knowledge and skills.
• D) CAE certification.

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Definitions:

Calendar Year

A period of one year that begins on January 1 and ends on December 31, used as an accounting period by many businesses.

Accounting Cycle

The complete series of accounting steps taken throughout the period until the financial statements are prepared, including transactions, journal entries, trial balance, and financial reporting.

Office Supplies

Items such as pens, paper, calculators, and other materials used in an office setting for daily operations.

Acquisition

The process by which one company purchases most or all of another company's shares to gain control of that company.