Internal control should be looked upon as part of a larger process within the organization.

Question

Quizplus · Accepted Answer

Internal control is not a standalone process, but rather a part of the overall organizational process aimed at achieving goals and objectives in a controlled and consistent manner. It is a tool that helps management to safeguard assets, prevent and detect fraud, and ensure compliance with laws and regulations. Therefore, it should be integrated into the organization's strategic planning, risk management, performance management, and governance processes to achieve optimal results.

Internal Control Should Be Looked Upon as Part of a Larger