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:

Life Imprisonment

A prison sentence where the convict is required to remain in prison for the rest of their life or until parole is granted, if eligible.

Common Law

A body of unwritten laws based on legal precedents established by the courts.

Mens Rea

The legal principle of intent that must be proven in many crimes, referring to the criminal intent of the perpetrator.

White-collar Crimes

Non-violent crimes committed by individuals, typically during the course of their business activities, involving deception for financial gain.