If a company has an effective internal audit department,

A) the internal auditors can express an opinion on the fairness of the financial statements.
B) their work cannot be used by the external auditors per PCAOB Standard 5.
C) it can reduce external audit costs by providing direct assistance to the external auditors.
D) the internal auditors must be CPAs in order for the external auditors to rely on their work.

C

Business

You might also like to view...

The most important of the seven steps in international negotiation is: ____________

Fill in the blank(s) with the appropriate word(s).

View
Business

A sole proprietor's access to capital is limited

Indicate whether the statement is true or false

View
Business