Which of the Following Would Be a Legitimate Action for the Internal

question 297

Multiple Choice

Which of the following would be a legitimate action for the internal auditor to take when monitoring audit engagement results? 1. Disregard a certain risk because management and the board accepted the risk in the past. 2. Abdicate the responsibility for a particular risk because it is not part of the audit plan. 3. Obtain agreement from senior management that unresolved audit issues will be reported to the board. Request corrective action from management in writing.

• A) 1 and 3 only
• B) 2 and 3 only
• C) 3 and 4 only
• D) 1, 2, and 4 only

Comprehend the procurement process and its importance in the supply chain.

Recognize the role of contracts and their effectiveness in supply chain management.

Appreciate the benefits of third-party involvement in supply chain surplus through aggregation strategies.

Recognize the importance of evaluating supplier performance on various factors.

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Definitions:

Charge Customers

The act of requesting payment from consumers for goods or services provided.

Bundled Price

A pricing strategy where multiple products or services are sold together at a single, combined price, often at a discount to purchasing them separately.

Unit Price

The cost for a single unit of a product, service, or measure of quantity, used for price comparison and economic decision making.

Price Discriminate

The practice of selling the same product to different consumers at different prices based on their willingness to pay.