US CMA Part 1 · Chapter 5 · Question 11 of 23
An internal audit engagement evaluates whether the purchasing department uses its resources efficiently and achieves its objectives effectively. This is best described as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) An operational audit
Explanation
Operational audits assess the efficiency and effectiveness of an organization's activities and recommend improvements. Compliance audits test adherence to laws, regulations or policies, and financial statement audits express an opinion on fair presentation.
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