Which of the Following Is Not Explicitly a Part of the IIA's

question 3

Multiple Choice

Which of the following is not explicitly a part of the IIA's definition of internal auditing?

• A)Internal auditing is an objective assurance activity.
• B)Internal auditors should help external auditors complete the annual financial statement audit.
• C)Internal auditing should help an organisation accomplish its objectives.
• D)Internal auditing is designed to add value and improve an organisation's operations.

Understand the concept of planned change and strategies to manage resistance.

Appreciate the importance and techniques for continuous personal and professional development.

Recognize the significance of maintaining a sustainable career advantage.

Understand the components and purpose of a career portfolio.

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Definitions:

Initial Investment Cost

The total amount of money needed to start a project, purchase an asset, or invest in a financial instrument.

Operating Working Capital

Current assets minus current liabilities, reflecting a company's efficiency and short-term financial health in its operations.

Cannibalization Effects

Refers to the reduction in sales volume, revenue, or market share of one product as a result of the introduction of a new product by the same company.

Sunk Costs

Costs that have already been incurred and cannot be recovered, which should not affect future business decisions.