In Addition to the Internal Auditor, Which of the Following

question 96

Multiple Choice

In addition to the internal auditor, which of the following parties should be present at an exit or closing conference? 1. Audit committee members. 2. The external auditor. 3. The management responsible for the areas covered by the engagement. 4. The chief executive officer.

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

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Definitions:

Intermediation Revenue Model

A business model where revenue is generated by facilitating transactions between two or more parties.

Real Estate Brokers

Professionals licensed to arrange real estate transactions, negotiating deals between buyers and sellers, often representing one of the parties.

Income Statement

A financial statement that reports a company's revenues, expenses, and profits over a specific period of time.

Operating Costs

Expenses associated with the routine functioning of a business or system.