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The following questions deal with internal auditing. Choose the best response and explain your answer. 1. Which of the following is not included in the scope of the internal audit function? a. Appraising the effectiveness and efficiency of operations and programs. b. Reviewing the means of safeguarding assets. c. Complying with the laws, regulations, policies, procedures, and contracts. d. Reviewing the strategic management process, assessing the quality of management decision making both quantitatively and qualitatively and reporting the results to the audit committee.

The following questions deal with internal auditing. Choose the best response and explain your answer. 1. Which of the following is not included in the scope of the internal audit function? a. Appraising the effectiveness and efficiency of operations and programs. b. Reviewing the means of safeguarding assets. c. Complying with the laws, regulations, policies, procedures, and contracts. d. Reviewing the strategic management process, assessing the quality of management decision making both quantitatively and qualitatively and reporting the results to the audit committee.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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The following questions deal with internal auditing. Choose the best response and explain your answer. 1. Which of the following is not included in the scope of the internal audit function? a. Appraising the effectiveness and efficiency of operations and programs. b. Reviewing the means of safeguarding assets. c. Complying with the laws, regulations, policies, procedures, and contracts. d. Reviewing the strategic management process, assessing the quality of management decision making both quantitatively and qualitatively and reporting the results to the audit committee.
Transcribed Image Text:The following questions deal with internal auditing. Choose the best response and explain your answer. 1. Which of the following is not included in the scope of the internal audit function? a. Appraising the effectiveness and efficiency of operations and programs. b. Reviewing the means of safeguarding assets. c. Complying with the laws, regulations, policies, procedures, and contracts. d. Reviewing the strategic management process, assessing the quality of management decision making both quantitatively and qualitatively and reporting the results to the audit committee.
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