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RTRP - IRS Registered Tax Return Preparer Test

Category - Specialized Forensic Knowledge

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Why are internal auditors of a company barred from auditing the financial statements?

To accommodate external auditors
To prevent internal auditors from auditing financial information he/she prepared
Internal auditors can be unreliable
It is cost-effective

Explanation

Answer: B - Internal auditors of a company are barred from auditing the financial statements he/she prepared. Doing so can be problematic if he/she contributed to the preparation of financial information.

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RTRP - IRS Registered Tax Return Preparer Test

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RTRP - IRS Registered Tax Return Preparer Test

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