The Reasons for Outsourcing an Internal Audit Include

question 84

Multiple Choice

The reasons for outsourcing an internal audit include

• A)more expertise only.
• B)more expertise and improved control over audit costs.
• C)improved control over audit costs and improved alignment with company goals.
• D)all of the above

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Definitions:

Tenant

A tenant is an individual or entity that occupies land or property rented from a landlord under a lease agreement.

Adjusting Entry

An accounting record made to update the financial position of a company before financial statements are prepared.

Fiscal Period

A specific duration of time for which a business or government reports its financial performance, could be a quarter, a year, or any other defined period.

Salaries

Payments made to employees typically on a monthly or biweekly basis for their work or services.