Which One of the Following Statements Is Not True About

question 66

Multiple Choice

Which one of the following statements is not true about internal auditing?

• A)Internal auditing is an objective evaluation function.
• B)Internal auditing is established within an organization.
• C)Internal auditing's purpose is to provide assurance regarding the company's compliance with stated policies and procedures.
• D)Internal auditing is established as an independent service to regulatory bodies and creditors.

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Definitions:

Franchisor

The owner of the trade name or trademark in a franchise.

Non-Exclusive Territory

A designated area where more than one entity is granted rights or privileges, such as sales or distribution, by an agreement.

Limited Liability Partnership

A partnership arrangement in which some or all partners have limited liabilities, protecting personal assets from business debts and liabilities.

Separate Legal Entity

An entity that is legally distinct from its owners or members, capable of having its own rights, duties, and obligations.