Question: The principal distinction between public accounting and internal auditing is
"The principal distinction between public accounting and internal auditing is that the latter activity is carried on by an organization's own salaried employees rather than by independent professional auditors." Criticize this quotation.
Answer to relevant QuestionsCompare the objectives of internal auditors with those of external auditors.Identify the three types of audits that a governmental organization might obtain.Identify the 14 requirements that may be applicable to federal financial assistance programs.Multiple Choice QuestionsSelect the best answer for each of the following questions. Explain the reasons for your selection.a. Internal auditing can best be described as:(1) An accounting function.(2) A compliance ...Describe how the organizational status of the internal audit department affects its independence.
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