How Does Internal Auditing Help an Organization

question 10

Multiple Choice

How does Internal Auditing help an organization?

• A) It reduced the cost of external auditors having to spend as many billable hours during the audit because the internal auditor does most of the work.
• B) It helps and organization by providing more credibility to the pubic so they will gain additional investors.
• C) It brings the organization into compliance with several Federal and State mandated programs.
• D) It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

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Definitions:

Injuries

Harm or damage incurred or suffered by a person’s body, property, rights, or reputation, typically due to someone else’s negligence or unlawful action.

Liability

A legal obligation or responsibility for the outcome of actions or for the debts of another.

Term-Life Insurance

Life insurance that provides coverage for a specified term.

Specified Term

A fixed-duration period explicitly stated in a contract or agreement, after which the contract may expire if not renewed.