In Your Own Words, Describe How the Institute of Internal

question 30

Essay

In your own words, describe how the Institute of Internal Auditors (IIA)defines internal auditing.

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Definitions:

Overestimating

The action of assessing something or someone as greater, larger, or more important than it is in reality.

Over-optimism

The tendency to be too confident or hopeful about future events or outcomes, often leading to underestimating risks.

Prospects

Potential customers or clients who have shown interest in a company's product or service.

Abilities

The inherent physical or mental capacities individuals possess, which can vary widely and impact performance in various tasks or occupations.