The Primary Purpose of an Internal Audit Is

question 7

Multiple Choice

The primary purpose of an internal audit is:

• A)To verify the accuracy of a firm's financial statements
• B)To punish employees for inefficient performance
• C)To meet the requirements of the accounting profession
• D)To ascertain employee adherence to organizational policies and procedures

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Definitions:

Performance Feedback

Information provided to individuals or groups regarding their performance, intended to guide future improvements.

Informal Acknowledgement

Recognition or validation of an individual's contributions or achievements in a non-formal or unofficial manner, often contributing to personal satisfaction and motivation.

Extinguish

In behavioral psychology, to diminish or eliminate a learned response, typically by discontinuing reinforcement of the response.

Reinforcement

A principle in behavioral psychology that increases the likelihood of a desired response by rewarding or punishing a behavior.