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Internal controls are designed to provide reasonable assurance that:

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

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Question ajoutée par Utilisateur supprimé
Date de publication: 2015/02/25
Chetan Raje
par Chetan Raje , Asst Manager Accounts & Finance , Modren Tasami Gen. Contracting CO

 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.

imran Noor -
par imran Noor - , Audit Officer , Auditor General of Pakistan

(A) >>>>>>>>>>>>>>>>>> is the correct option

BENNY MANGAN DEVASSY
par BENNY MANGAN DEVASSY , SENIOR INTERNAL AUDITOR , MEZZAN HOLDING

The answer is A. The main purpose of internal control is to find out material errors or prevent/detect/correct fraud.

Mobeen Tahir
par Mobeen Tahir , Credit Officer , Tawuniya Insurance

Hi,

Option A is the right answer.

Rizwan Shaikh
par Rizwan Shaikh , Senior Manager Finance , Askari Guards (Pvt) Ltd

The answer is Choice A, that is to check errors and frauds and rectify them and take corrective actions within a certain period.

Awais Buksh
par Awais Buksh , Purchaser , Tetra Pak Jeddah

My Answer are A

Because internal control are helping to save companies secrets 

 

hossam othman
par hossam othman , Audit Manager , "AMREYAH CEMENT CO."CIMPOR GROUP”.{IT IS A MULTINATIONAL COMPANY}

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

Imran Ali
par Imran Ali , Senior Manager Internal Audit , Adamjee Insurance Company Limited

Internal controls are designed to provide reasonable assurance that

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.

ABDULLAH YUSUF SHARIF
par ABDULLAH YUSUF SHARIF , Deputy Manager (Finance & Accounts) , Pragati Insurance Ltd.

A. Material errors or fraud will be prevented

Jawad Ali Chowdhry
par Jawad Ali Chowdhry , Senior Accountant , A P L Group of Companies (A P L Global Logistics LLC, ARP Electronics LLC, AUR Rent a Car LLC)

Management’s planning, organizing, and directing processes are properly evaluated

Mohammad Hassan Attari
par Mohammad Hassan Attari , World of the best company , Dawat e islami

because teacher very qualified person of his qualification

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