Which of the following statements is true regarding the issuance of opinions by internal auditors?
a) For internal audit to issue an opinion the CAE must be a CPA.
b) Although macro-level opinions are issued at a point in time, the supporting audit evidence is generally built-up over a period of time.
c) Standards require that an opinion be given in the report of each assurance engagement.
d) Internal audit opinions can only provide negative assurance.
Ans: b) Although macro-level opinions are issued at a point in time, the supporting audit evidence is generally built-up over a period of time.
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A. Service B. Professional specialty C. Technicians D. Administration
Which of the following is true of the price-fixing clause?
A. It is a provision forbidding a licensee from competing with the licensor. B. It specifies only the minimum prices. C. It forbids a licensee from entering into agreements to acquire or distribute technologies or products that compete with ones furnished or designated by the licensor. D. It requires a licensee to sell products at a price specified by the licensor.