Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms.Match each phrase with the best term by placing the letter designating the term in the space provided.
-____ Audit firm cannot provide a variety of other services to its client,such as consulting.

Question

Quizplus · Accepted Answer

The term that best fits the phrase "Audit firm cannot provide a variety of other services to its client, such as consulting" is nonaudit services, which refers to services that an audit firm cannot provide to its audit clients in order to maintain independence and objectivity.

Answer: B
 Oversight board refers to a group of individuals responsible for monitoring and overseeing the activities of an organization or industry, such as a regulatory or governance board.

Answer: G
 Internal control refers to the processes and procedures implemented by an organization to ensure the accuracy, completeness, and reliability of its financial reporting and to safeguard its assets from misuse or loss.

Answer: D
 Corporate executive accountability refers to the responsibility of senior management and board members to ensure that an organization is operating in a legal and ethical manner and to be accountable for any financial reporting or governance failures.

Answer: J
 Risk assessment refers to the process of identifying, analyzing, and managing risks that may affect an organization's financial reporting or operations.

Listed Below Are Ten Terms Followed by a List of Phrases