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Chapter 1.1, BEC113566, BEC113568, BEC113545 - Coggle Diagram
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BEC113566
International Standards for the Professional Practice for Internal Auditing (ISPPIA) include rules and interpretations for which of the following types of services?
International Standards for the Professional Practice for Internal Auditing (ISPPIA) include rules and interpretations for assurance and consulting services only.
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BEC113568
As per the International Standards for Professional Practice of Internal Auditing (ISSPPIA), the Chief Audit Executive:
As per the International Standards for Professional Practice of Internal Auditing, the Chief Audit Executive:
For high objectivity, must (not may) report functionally to the audit committee and administratively to the chief executive officer of the corporation (i.e. dual reporting relationship).
Must establish a follow-up process to monitor and ensure that action has been taken by the management on the results communicated to them.
Must establish a risk-based plan to determine the priorities of the internal audit activity, consistent with the organization’s goals.
Must (not may) confirm to the board, at least annually, the organizational independence of the internal audit activity.
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II. Must establish a follow-up process to monitor and ensure that action has been taken by the management on the results communicated to them.
III. Must establish a risk-based plan to determine the priorities of the internal audit activity, consistent with the organization’s goals.
IV. May confirm to the board, at least annually, the organizational independence of the internal audit activity.
BEC113545
Which of the following form part of articles of incorporation as compared to bylaws of a corporation?
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The Articles of Incorporation must be filed with the Office of the Secretary of State when a corporation decides to incorporate. The Articles should typically include:
- Name of the Corporation and its initial address
- Number of Authorized Shares
- Name, Address and Signature of each incorporator
- Purpose of the Corporation
- Name and address of the registered agent of the corporation