A free enterprise system is based on four key tenets which are private property rights, profit motive, equal individual rights and unrestricted competition. Property rights assure individuals that their property will not be confiscated by the state. The profit motive leads to competition which results in increased productivity
The final decision regarding whether or not an internal audit engagement's goals have been attained rests with the specific internal audit staff member.
Who approves the internal audit plan?
- The governing body and senior management should concur on the internal audit charter.
- The internal audit's scope, independent reporting relationships, authority, responsibility, and requirement to adhere to IIA Standards should all be listed in the charter, at the very least.
Who is in charge of the internal auditing task?
- Usually, the audit committee, the accounting officer, or the board of trustees are responsible for this.
- The internal audit activity needs qualified, competent, and experienced personnel who can operate in accordance with the Code of Ethics and the International Standards if it is to be effective.
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Answer:
The Investiture Controversy between the Holy Roman Emperor and the pope was Option B: who could appoint church officers, the secular emperor or the pope.
Explanation:
During the Middle Ages, the 'Medieval Christian church' was led by Pope and the nation was led by the king. One great disagreement between Pope Gregory VII and King Henry IV (of Holy Roman Emperor) was the question of who would appoint the local church officials. Henry thought that he should have the right to appoint the bishops of the church as he was the king. And Pope opposed stating that he should have this power.
It was not because of how the crusades should be funded or on taxes.
