Match the Internal Auditors Code of Ethics Principle to the Appropriate

question 56

Multiple Choice

Match the internal auditors code of ethics principle to the appropriate definition.
-Competency

• A)Internal auditors exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined.
• B)The integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgment.
• C)Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
• D)Internal auditors apply the knowledge, skills, and experience needed in the performance of internal audit services.

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Definitions:

Differential Revenue

The difference in revenue generated under two different scenarios or courses of action.

Further Process

Additional actions taken in the production process to refine or complete products for the market.

Differential Cost

The variance in expenses resulting from choosing between two options or adjustments in production amounts.

Operating Capacity

The maximum output or production level a company can sustain with its current resources, such as machinery and labor, over a specific period.