According to IIA Guidance, Which of the Following Statements About

question 401

Multiple Choice

According to IIA guidance, which of the following statements about working papers is false?

• A) They assist in the implementation of recommendations.
• B) They provide support for communication to third parties.
• C) They demonstrate compliance with auditing standards.
• D) They contribute to development of the internal audit staff.

---

Definitions:

Franchise

A license that allows the franchisee to access a business's proprietary knowledge, processes, and trademarks to allow the party to sell a product or provide a service under the business's name.

Product Development

The complete process of bringing a new product to market, from idea generation to commercialization.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.

R&D Costs

Expenses associated with the research and development of a company's goods or services, often considered an investment in a company's future.