Which of the Following Is a Requirement of the Standards

question 34

Multiple Choice

Which of the following is a requirement of the Standards for the Professional Practice of Internal Audit if the Institute of Internal Auditors (IIA) that is not a requirement of an external auditor performing a financial statement audit?

• A)Due care.
• B)Internal control evaluation.
• C)Reporting to the audit committee.
• D)Performing a follow-up on audit findings.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence of the world's markets and businesses.

Research And Development (R&D)

The process of investigating and creating new products and services or improving existing ones through innovations.

Gross Domestic Product (GDP)

The total market value of all final goods and services produced within a country in a given period, used as a broad measure of a nation's overall economic activity.

Research And Development (R&D)

Organizational activities aimed at gaining new knowledge or creating new products and technologies through systematic investigation.