When Performing an Operational Audit, the Internal Audit Team Must

question 96

Multiple Choice

When performing an operational audit, the internal audit team must first determine that

• A) a financial audit has been performed by an independent auditor.
• B) a financial audit has been performed by an internal auditor.
• C) a review was performed by either an independent or an internal auditor.
• D) specific criteria are developed to define effectiveness.

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Definitions:

Federal Law

Federal law consists of rules and regulations that are enacted by the national government and applicable throughout the country.

Placement Site

The specific location where an individual is assigned to work, study, or perform duties as part of a program or job.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual, guiding its decisions and actions.

Organizational Chart

A diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.