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A. Material errors or fraud will be prevented or detected and corrected within a timely period by employees in the course of performing their assigned duties.
B. Management’s plans have not been circumvented by worker collusion.
C. The internal auditing department’s guidance and oversight of management’s performance is accomplished economically and efficiently.
D. Management’s planning, organizing, and directing processes are properly evaluated
A. Material errors or fraud will be prevented or detected and corrected within a timely period by employees in the course of performing their assigned duties.
(A) >>>>>>>>>>>>>>>>>> is the correct option
The answer is A. The main purpose of internal control is to find out material errors or prevent/detect/correct fraud.
Hi,
Option A is the right answer.
The answer is Choice A, that is to check errors and frauds and rectify them and take corrective actions within a certain period.
My Answer are A
Because internal control are helping to save companies secrets
a- internal controls are designed to provide reasonable assurance that all financial transactions rergistered in company books and treated in adicuate manner ( in conformaty with compay regulations and genarally accounting standards ) also operational transactions prepared accourding to bylows and in good manner
A. Material errors or fraud will be prevented or detected and corrected within a timely period by employees in the course of performing their assigned duties.
Having internal controls in place is not sufficient if they are not are effectively implemented, monitered and alligned with the business and environment risks and so the system and processes works toward the aim and goals set by the senior management in a way that desired results are achieved as intended.
Management’s planning, organizing, and directing processes are properly evaluated
