The Fundamental Difference Between Internal and External Auditing Is That

question 49

Multiple Choice

The fundamental difference between internal and external auditing is that

• A)internal auditors represent the interests of the organization and external auditors represent outsiders
• B)internal auditors perform IT audits and external auditors perform financial statement audits
• C)internal auditors focus on financial statement audits and external auditors focus on operational audits and financial statement audits
• D)external auditors assist internal auditors but internal auditors cannot assist external auditors

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Definitions:

Core Assumption

A fundamental belief or principle that is accepted as true without proof and is foundational to a particular theory or philosophical standpoint.

Exchange Theory

A social theory that describes social relationships in terms of costs and benefits, rewards, and punishments.

Atomistic Approaches

Atomistic approaches analyze social, biological, or physical systems by breaking them down into their simplest components, focusing on the properties and behaviors of these individual units rather than the system as a whole.

Social Context

The immediate physical and social setting in which people live or something occurs, which influences how they think, feel, and act.