According to the professional standards of practice, Internal Auditors demonstrate due professional care by: 1) In planning the audit, determining the extent of work needed to achieve the engagement's objectives. 2) Understanding the adequacy and effectiveness of governance, risk and related control processes. 3) Determining the relative complexity, materiality, or significance of matters to which assurance procedures are applied. 4) All of the above. 5) Only items 1 and 2.
According to the professional standards of practice, Internal Auditors demonstrate due professional care by: 1) In planning the audit, determining the extent of work needed to achieve the engagement's objectives. 2) Understanding the adequacy and effectiveness of governance, risk and related control processes. 3) Determining the relative complexity, materiality, or significance of matters to which assurance procedures are applied. 4) All of the above. 5) Only items 1 and 2.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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According to the professional standards of practice, Internal Auditors demonstrate due professional care by:
1) In planning the audit, determining the extent of work needed to achieve the engagement's objectives.
2) Understanding the adequacy and effectiveness of governance, risk and related control processes.
3) Determining the relative complexity, materiality, or significance of matters to which assurance procedures are applied.
4) All of the above.
5) Only items 1 and 2.
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