Which of the Following Statements Is True

question 109

Multiple Choice

Which of the following statements is true?

• A)External auditors must consider the internal audit function as part of obtaining an understanding of a company's internal control structure.
• B)External auditors must review all work performed by internal auditors.
• C)External auditors must investigate the competence and objectivity of internal auditors.
• D)External auditors must share responsibility for the work of internal auditors if it is used for evidence for the financial statement audit.

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Definitions:

Slope Failure

The sudden or gradual collapse of a slope that is too steep for its material to resist the pull of gravity.

Calcium Carbonate

Calcium carbonate is a chemical compound, CaCO3, found in rocks as the minerals calcite and aragonite and is the main component of shells of marine organisms, snails, and eggs.

Clay Minerals

A group of hydrous aluminium phyllosilicates, sometimes with variable amounts of iron, magnesium, alkali metals, alkaline earths, and other cations, which are found in soils and sedimentary rocks.

Chemical Ions

Atoms or molecules that have gained or lost one or more electrons, resulting in a net electrical charge.