What Is the Primary Difference Between Internal and External Auditors

question 19

Multiple Choice

What is the primary difference between internal and external auditors?

• A)the methodology used to conduct financial statement audits
• B)the level of competence required
• C)the parties to whom the auditor is responsible
• D)the level of objectivity required

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Definitions:

Persuasive Precedents

Decisions from other jurisdictions that, while not binding, may influence a court's decision in similar cases.

Regulations

Rules made by a government or regulatory body to control certain activities or behaviors.

Stare Decisis

A legal principle that obligates courts to follow historical cases when making a ruling on a similar current or future case.

Precedent

A court decision that furnishes authority for deciding later cases in which similar facts are presented.