Knowee
Questions
Features
Study Tools

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
🧐 Not the exact question you are looking for?Go ask a question

Solution

To assess a company from an independent consulting perspective, the most relevant option from the provided list would be Audit committee.

Explanation:

  1. Insight: While insight can provide valuable information, it does not specifically denote an independent assessment.
  2. 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.
  3. 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.
  4. 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.

This problem has been solved

Similar Questions

An active and independent board of directors may influence the philosophy and operating style of audit engagement teams.Select one:TrueFalse

A(n) audit is an evaluation and unbiased opinion about the accuracy of a company's financial statements.

When an organization seeks validation of its financial statements and IT controls for stakeholders, which type of audit is most suitable?

Which of the following is not a function of public accounting firms?Transaction AdvisoryFinancial Planning & AnalysisAuditDue dilligence

The independent auditor's primary responsibility is to A. the shareholders B. the directors C. the company's creditors (payables) D. the company's bank

1/2

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.