Having an Audit Charter Is Important for Internal Audit Departments

question 65

Multiple Choice

Having an audit charter is important for internal audit departments.Which of the following items is generally not a reason to have an audit charter?

• A)It provides a commitment from management to support the internal audit department's activities.
• B)It defines the skills and competencies required by the internal audit department.
• C)It defines the department's authority and responsibility.
• D)It defines the reporting requirements for internal audit departments.

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Definitions:

Status Set

A collection of social statuses that an individual occupies, such as student, parent, employee, which define roles and expectations.

Master Status

A status that has exceptional importance for social identity, often shaping a person's entire life and how they are perceived by others.

Statuses

Positions or rankings that individuals hold within a social hierarchy, which influence their rights, responsibilities, and relationships.

Social Interactions

The process by which individuals act and react in relation to others, including communication, relationships, and influences between people.