According to IIA Guidance, Which of the Following Is the Most

question 160

Multiple Choice

According to IIA guidance, which of the following is the most likely obstacle to undertaking a quality assurance and improvement program by the internal audit activity?

• A) The size of internal audit department under review.
• B) The time commitment to complete.
• C) The lack of independence and objectivity.
• D) The inability to adequately fund the program.

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Definitions:

Statute of Frauds

A legal doctrine requiring certain contracts to be in writing and signed by the party to be charged, to prevent fraud and perjuries.

Written Contract

is a legally binding agreement that has been expressed in textual form, detailing the terms and conditions between parties.

Unconscionability Rule

A legal principle that prevents the enforcement of contracts or terms that are unjust, excessively oppressive, or grossly unfair to one party.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize laws across the states.