A traditional definition of internal control specifically includes all of the following features, except
A) reliability of accounting data.
B) detection of employee theft.
C) promotion of operational efficiency.
D) adherence to prescribed managerial policies.

Question

Quizplus · Accepted Answer

The traditional definition of internal control includes reliability of accounting data, promotion of operational efficiency, and adherence to prescribed managerial policies. However, detection of employee theft is not specifically mentioned in the traditional definition. Detection of fraud is generally considered part of the internal control process, but explicitly mentioning employee theft is not part of the traditional definition.

A Traditional Definition of Internal Control Specifically Includes All of the Following