Even a good system of internal controls can be circumvented by collusion among employees.

Name: Even a good system of internal controls can be circumvented by collusion among employees.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

Collusion means that two or more employees work together to hide embezzlement by covering for each other.No system can prevent all fraud.However,a good system of internal controls minimizes illegal or unethical activities by reducing temptation and increasing the likelihood of early detection.

Even a Good System of Internal Controls Can Be Circumvented