Which of the Following Is Least Likely to Enhance the Independence

question 19

Multiple Choice

Which of the following is least likely to enhance the independence of an internal audit activity?

• A) The existence of a formal written charter for the internal audit activity.
• B) Submission of an annual internal audit work plan to the audit committee.
• C) A direct reporting relationship to the audit committee.
• D) Adherence to the organization's position classification structure.

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Definitions:

Consumer Surplus

The discrepancy between the price consumers are ready to pay for a good or service and the price they end up paying.

Area Representation

The graphical depiction of quantitative relationships, often used in statistical and economic models to illustrate areas under curves or between lines.

Price

The price tag reckoned, necessitated, or conveyed in compensation for a particular thing.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive.