An action taken to prevent,detect,and correct errors and frauds in transactions is referred to as a
A) Control objective.
B) Risk assessment.
C) Dual-purpose test.
D) Control activity.

Question

Quizplus · Accepted Answer

Control activities are the specific policies, procedures, and activities implemented by management to achieve control objectives and address risks. These activities help to prevent, detect, and correct errors and frauds in transactions. Examples of control activities include segregation of duties, authorization and approval procedures, physical safeguards, and IT controls. Control activities are an important part of an overall internal control system.

An Action Taken to Prevent,detect,and Correct Errors and Frauds in Transactions