The primary way that fraud is prevented,detected,or corrected is through a proper system of:
A)ethical standards and a code of ethics.
B)policies developed by upper management.
C)internal control.
D)internal and external audits.

Question

Quizplus · Accepted Answer

Internal control is the primary way to prevent, detect, or correct fraud. Internal control is a system put in place by an organization that helps to ensure that financial reporting is accurate, assets are safeguarded, and compliance with laws and regulations is achieved. This system includes policies and procedures, managerial oversight, and monitoring processes. While ethical standards, a code of ethics, policies developed by upper management, and audits are important components of an anti-fraud program, internal control is the most foundational and effective means of combating fraud.

The Primary Way That Fraud Is Prevented,detected,or Corrected Is Through