The Internal Audit Department Reports Directly to the Audit Committee

question 43

True/False

The internal audit department reports directly to the audit committee, a subcommittee of the board of directors.

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Definitions:

Group Development

The stages groups go through as they progress from their formation to achieving their objectives, including forming, storming, norming, performing, and adjourning.

Forming

The initial stage of team development where members meet, form initial impressions, and establish team norms and structures.

Norming

is a stage in team development where members resolve their differences, appreciate colleagues' strengths, and establish norms and cohesiveness.

Performing

The fourth stage of group development, characterized by high levels of productivity, cohesion, and effective functioning towards achieving goals.