Which of the following statements about internal control is in?
A) Internal control is a very broad concept
B) Internal control eliminates the possibility of fraud and error
C) Internal control encompasses all of the elements of an organisation
D) Internal control provides reasonable assurance about the achievement of the entity's objectives
Correct Answer:
Verified
Q4: Internal control is intended to provide reasonable
Q10: The concept that no one employee should
Q11: Internal control weaknesses decrease the risk of
Q12: In larger entities,there are often limitations surrounding
Q14: The internal control objective of 'valued' refers
Q15: An internal control exception is an observed
Q16: Audit risk is the risk that an
Q17: The purpose of an auditor's management letter
Q18: Checklists and preformatted questionnaires are particularly helpful
Q19: Control risk refers to the risk that
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