The sole purpose for creating an internal control system is to deter embezzlement.

Name: The sole purpose for creating an internal control system is to deter embezzlement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While deterring embezzlement may be one goal of an internal control system, it is not the sole purpose. Internal control systems also aim to ensure accuracy and reliability of financial reporting, compliance with laws and regulations, and operational efficiency.

The Sole Purpose for Creating an Internal Control System Is