ACCT291 Internal Auditing CH1 Quiz

ACCT291 Internal Auditing CH1 Quiz - Question 1 2 out of 2...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 2 out of 2 points AVF Company’s new CFO has asked the company’s CAE to meet with him to discuss the role of the internal audit function. The CAE should inform the CFO that the overall responsibility of internal auditing is to: Answer Selected Answer: Serve as an independent assurance and consulting activity designed to add value and improve the company’s operations. Correct Answer: Serve as an independent assurance and consulting activity designed to add value and improve the company’s operations. Response Feedback: A is the best answer. This answer is most closely aligned with The IIA’s definition of internal auditing. Per the definition, internal auditing comprises assurance and consulting activities and is designed to add value and improve an organization’s operations. The other answers may represent appropriate activities for an internal audit function, but they do not represent its overall responsibility. Question 2
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/28/2012 for the course ACCT 291 taught by Professor None during the Spring '12 term at College of Southern Idaho.

Page1 / 4

ACCT291 Internal Auditing CH1 Quiz - Question 1 2 out of 2...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online