Feedback on Engagements from Audit Clients, Annual Benchmarking of the Internal

question 367

Multiple Choice

Feedback on engagements from audit clients, annual benchmarking of the internal audit activity's (IAA's) performance against best practice, and analyses of project budgets and audit plan completion are all tools that can best be used by the IAA for which purpose?

• A) Completing internal assessments.
• B) Determining the level of residual risk.
• C) Identifying conflicts of interest.
• D) Developing control processes.

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Definitions:

Stock Split

A corporate action that increases the number of a corporation's outstanding shares by dividing each share, which in turn reduces its price but not the total market capitalization.

Total Market Value

The aggregate value of a company or an asset in the marketplace, based on current prices and the total number of shares or units outstanding.

Stock Split

A corporate action where a company divides its existing stock into multiple shares to boost the liquidity of the shares.

Shares Outstanding

The cumulative amount of a company's shares that have been approved, distributed, and acquired by shareholders and currently possessed by them.