Which of the following statements is true regarding consulting and assurance engagements performed by the...

For both assurance and consulting engagements, the auditor must independently and objectively select the criteria for evaluation

For a consulting engagement, internal auditors and management jointly agree on the adequate criteria needed to evaluate governance, risk management, and controls. This is not true of assurance engagements

Engagement planning and fieldwork are similar for both types of engagements (there are no major differences) although the reporting process is different depending on which service is provided

For a consulting engagement objectives must address governance risk management and control processes to the extent agreed upon with the client. This is not true of assurance engagements