Internal controls
A) are defined based on industry specifications.
B) are customized to fit a company's unique risks and risk appetite.
C) are predefined for public companies.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

Internal controls are tailored to a company's specific operational needs, risks, and risk appetite, rather than being universally predefined or strictly based on industry specifications. This customization ensures that the controls are effective in mitigating the unique risks faced by each company.

Internal Controls