Internal control systems:
A)are the same from company to company.
B)are regulated by the Securities and Exchange Commission.
C)vary from company to company.
D)guarantee the safeguard of assets.

Question

Quizplus · Accepted Answer

Internal control systems can vary from company to company based on factors such as the size of the company, the industry it operates in, and the regulatory environment. There are no standardized internal control systems that are the same for all companies. The Securities and Exchange Commission (SEC) sets guidelines and regulations for internal control systems of publicly traded companies, but these regulations may not apply to private companies. Internal control systems do not guarantee the safeguard of assets but aim to mitigate risks and prevent fraud and errors.

Internal Control Systems