One objective of an internal control system is to safeguard the assets of a company.

Question

Quizplus · Accepted Answer

This statement is true. Internal control systems are designed to safeguard a company's assets by ensuring that proper procedures and controls are in place to prevent theft, loss, or other forms of damage. This includes measures such as secure storage of physical assets, access controls for computer systems and sensitive information, and regular audits and reviews to detect any suspicious activity.

One Objective of an Internal Control System Is to Safeguard