The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct
The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 32RQSC
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