10 - 10/10 One of the purposes of the International...

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10/10 One of the purposes of the International Standards for the Professional Practice of Internal Auditing as stated in the introduction to the current version of the Standards is to Answer Establish the independence of the internal audit activity and emphasize the objectivity of internal auditing. Encourage the professionalization of internal auditing. Establish the basis for evaluating internal auditing performance. Encourage external auditors to make more extensive use of the work of internal auditors. Question 2 The actions taken to manage risk and increase the likelihood that established objectives and goals will be achieved are best described as Answer Compliance. Quality assurance. Control. Supervision. According to the Standards, an internal auditor's role with respect to operating objectives and goals includes: Answer Approving the operating objectives or goals to be met. Determining whether underlying assumptions are appropriate. Developing and implementing control procedures.
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This note was uploaded on 03/25/2011 for the course MGT 268 taught by Professor Paragkosalge during the Spring '08 term at Grand Valley State University.

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10 - 10/10 One of the purposes of the International...

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