As part of an organization's compliance obligations,the accounting function must attest that there are absolutely no weaknesses in internal controls,accounting systems,and payroll systems.

Question

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While the accounting function is responsible for maintaining strong internal controls and accurate accounting and payroll systems, it is not realistic to expect that there are absolutely no weaknesses or areas for improvement. The accounting function may identify areas for improvement and take steps to mitigate any potential risks. However, attesting that there are no weaknesses may not be feasible or appropriate.

As Part of an Organization's Compliance Obligations,the Accounting Function Must