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In conducting an appraisal of the economy and efficiency with which resources are employed, an internal auditor is responsible for:

<p style="text-align:justify;">a. Determining whether operating standards have been established</p> <p style="text-align:justify;">b. Verifying the existence of assets</p> <p style="text-align:justify;">c. Reviewing the reliability of operating information</p> <p style="text-align:justify;">d. Verifying the accuracy of asset valuation</p> <p style="text-align:justify;"> </p>

Financial Accounting Financial Analysis Internal Audit Internal Controls Audit Management
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Question added by Mir Mujtaba Ali , Internal Audit Manager , Confidential
Date Posted: 2015/01/02
Upvote (0) Views (5) Followers (7) Answers (6) Report Question
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Mohamed Ezat Mahmoud Mady
by Mohamed Ezat Mahmoud Mady , Accounting and Financial Manager , Trustmed

The Answer Is (A)

Jobish Mathew
by Jobish Mathew , Accounts ans Compliance Manager , Remox Pty Ltd

A

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

answer ( A) is the correct answer 

Deleted user
by Deleted user

a. Determining whether operating standards have been established

Hany Sabry
by Hany Sabry , Finance Manager , Coffee Adress

The answer is (A)

Management is responsible for setting operating standards to measure an activity's economical and efficient use of resources. internal auditors are responsible for determining whether:

  1. Operating standards have been established for measuring economy and efficiency.
  2. Established operating standards are understood and are being met.
  3. Deviations from operating standards are identified, analyzed, and communicated to those responsible for corrective action.
  4. Corrective action has been taken.

Khurram Shaukat Memon
by Khurram Shaukat Memon , Academic Research Writer , Freelance Academic Research Writer

Options (a) and (c) should do the trick.

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