The Reasons for Outsourcing an Internal Audit Include

question 56

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:

Standby Purposes

Standby purposes involve situations where credit or resources are held in reserve to be utilized in specific circumstances or emergencies.

Actuarial Information

Data and analysis used to evaluate the financial implications of risk and uncertainty, often used in insurance and pensions.

Market Rate

The dominant interest rate in the market for investments with comparable risk and duration.

Obligation

A duty or commitment to pay money or perform some action in the future, often legally enforceable.