Describes the responsibility of internal audit department

Assignment Help Accounting Basics
Reference no: EM132731205

Problem 1: Which of the following statements best describes the responsibility of Internal Audit department's responsibility for follow-up activities related to findings/recommendations in a previous engagement?

A. The CAE should schedule follow-up activities only if directed by management.

B. Internal Audit should determine if the management has taken appropriate action as agreed to and the desired results are being achieved.

C. Internal Audit's responsibility is over by including the recommendations and management action plans in the audit report. No further action is needed.

D. Internal Audit has no responsibility at all for follow-up activities related to findings/recommendations in a previous engagement

Reference no: EM132731205

Questions Cloud

Key elements necessary for group presentations : This assignment will allow students to demonstrate the key elements necessary for group presentations.
Compare at least two development planning methods : Create a media-rich, 14- to 18-slide Microsoft PowerPoint tutorial or an infographic using an infographic maker, such as Piktochart, Venngage, or Canva.
Calculate net income for under the cash basis of accounting : In its first year of operations, 2020, Pronghorn Corp. invoiced $184,000 in service revenue. Calculate net income for under the cash basis of accounting
Describe the relationship between motivation and performance : Describe the relationship between motivation and performance and why motivation of employees matters to managers.
Describes the responsibility of internal audit department : Describes the responsibility of Internal Audit department's responsibility for follow-up activities related to findings/recommendations in a previous engagement
What will be the new medical care frontier : What do you think the future of health services delivery will look like? (Better/worse? What will be the new medical care frontier?
Identify decisions from personal experiences : Identify decisions from your personal experiences that fit under each of the categories of differential analysis presented in the text.
What is the male student score average : The average score of a class of 35 students is 76. If the mean score of the 15 female students is 74, what is the male student score average
Describe what is culture : How would you describe what is culture? And give an example of either a good or bad in aviation.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd