Multiple Choice
Why might the decisions about materiality and risks be different for the internal auditor than for the external auditor when conducting an audit of a system?
A) The auditors are applying different skills during the conduct of the audit.
B) External auditors have different expectations with respect to quality control.
C) Internal auditors focus only on the potential for dollar errors internally.
D) External users may have different needs than management.
Correct Answer:
Verified
Correct Answer:
Verified
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Q26: What is specific materiality?