The Purpose of the Internal Audit's Evaluation of the Effectiveness

question 68

Multiple Choice

The purpose of the internal audit's evaluation of the effectiveness of existing risk management processes is to determine that

• A)management has planned and designed operations to provide reasonable assurance of achieving objectives and goals.
• B)management's policies and procedures will achieve objectives and goals.
• C)the organization's objectives and goals are established within risk limits established by the internal audit organization.
• D)the organization's objectives and goals will be achieved in an accurate and timely manner and with minimal use of resources.

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Definitions:

Recognition Memory

A component of memory that allows an individual to identify previously encountered events, objects, or people.

Empty Nest Syndrome

A feeling of loneliness or depression that parents may experience when their children grow up and leave home.

Grown Children

Adults who have reached maturity but are referenced in relation to their parents, highlighting ongoing familial bonds despite adulthood.

Marital Relationship

The emotional, physical, and social bond between two individuals in a legally and socially recognized union.