Which of the Following Types of Internal Audit Consulting Engagements

question 231

Multiple Choice

Which of the following types of internal audit consulting engagements is an example of a facilitation service?

• A) Conducting control self-assessment workshops. II. Participating on standing committees. III. Reviewing regulatory compliance. IV. Benchmarking.
• B) Estimating savings from outsourcing processes.
• C) I and IV only
• D) I, III, and IV only
• E) II, III, and V only
• F) I, II, III, IV, and V.

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Definitions:

Received Cash

Funds that have been physically or digitally transferred to an entity, reflecting an increase in its liquidity.

Increase Assets

Increasing assets refers to any action or transaction that raises the total value of the assets owned by an individual or entity.

Accounting Equation

The basic principle that equates assets with the sum of liabilities and shareholders' equity, formulated as Assets = Liabilities + Equity.

Liabilities

Financial obligations or debts that an entity owes to external parties, which must be settled over time through the transfer of economic benefits.