The two main objectives of internal controls are
A) to support the automated parts of the business in the functioning of the controls in place.
B) to prevent or detect misstatements in the financial statements.
C) both a and b
D) none of the above

Question

Quizplus · Accepted Answer

Internal controls serve two main purposes: (a) to support the efficient functioning of the business operations, whether manual or automated, and (b) to prevent or detect misstatements in the financial statements. Therefore, both statements (a) and (b) are correct, making choice C the correct answer.

The Two Main Objectives of Internal Controls Are