The Internal Audit Department Reports Directly to the Subcommittee of the Board

question 139

True/False

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

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Definitions:

Paternalistic Policies

Company policies characterized by the management making decisions for employees, ostensibly for their welfare, but often limiting their autonomy and freedom of choice.

Concession Bargaining

A negotiation process where union members agree to give up certain benefits or accept pay cuts in exchange for something else, such as job security.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee.

Benefit Reductions

The act of decreasing the amount or scope of the benefits (such as health insurance, retirement pensions) provided to employees by an employer.