Question

In: Accounting

The audit committee can serve several important purposes, some of which directly benefit internal auditing. The...

The audit committee can serve several important purposes, some of which directly benefit internal auditing. The most significant and foremost benefit provided by the audit committee to the internal auditor is

Select one:

a. Reviewing annual audit plans and reports

b. Approving annual audit scheduling and plans

c. Reviewing copies of the internal control procedures for selected company operations

d. Protecting the independence of the internal auditor, especially from undue management influence.

Question 18

In Risk Control Matrix, which of the following is one of the elements the auditor consider and prepare after deciding risk responds from management?

Select one:

a. Assessing the likelihood and impact of risks

b. Risk statement describing each risk

c. Testing approach

d. Activity or subprocess within key process

Expert Solution

Option D is correct

Protecting the independence of the internal auditor, especially from undue management influence.

Explanation:

The audit committee can serve several important purposes, some of which directly benefit internal auditing. The most significant and foremost benefit provided by the audit committee to the internal auditor is Protecting the independence of the internal auditor, especially from undue management influence.

Q:18

a. Assessing the likelihood and impact of risks

Explanation:.

In Risk Control Matrix, it is the one of the elements the auditor consider and prepare after deciding risk responds from management

ekkarill92 answered 2 years ago

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