In your own words, describe how the Institute of Internal Auditors (IIA) defines internal auditing?
What will be an ideal response?
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
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An auditor wishes to perform tests of controls on an entity's cash disbursements procedures. If the control activities leave no audit trail of documentary evidence, the auditor most likely will test the procedures by:
A. confirmation and observation. B. inquiry and analytical procedures. C. observation and inquiry. D. analytical procedures and confirmation.
A category concept defines the product's attributes and features
Indicate whether the statement is true or false
________ interviews occur when a company interviews several candidates for the same position at the same time
Fill in the blank(s) with correct word
Which of the following is not a real federal anti-discrimination law?
a. Title VII of the Civil Rights Act of 1964 b. Equal Pay Act c. Equal Opportunity Act d. Rehabilitation Act