What assesses the company from an independent consulting point of view?Select answer from the options belowInsightAudit committeeInternal auditObjectivity
Question
What assesses the company from an independent consulting point of view?
Select answer from the options below:
- Insight
- Audit committee
- Internal audit
- Objectivity
Solution
To assess a company from an independent consulting perspective, the most relevant option from the provided list would be Audit committee.
Explanation:
- Insight: While insight can provide valuable information, it does not specifically denote an independent assessment.
- Audit committee: This committee typically comprises members of the board who provide oversight regarding the accounting and financial reporting processes. Their independent functions are crucial in evaluating company performance from an external viewpoint.
- Internal audit: Although internal audits evaluate a company's processes, they are conducted by employees within the organization and may not provide an entirely independent perspective.
- Objectivity: Objectivity represents an essential quality required in assessments but is not a specific entity or mechanism that conducts an assessment by itself.
Overall, the audit committee plays a significant role in performing independent assessments of a company's practices and controls.
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