There are only two internal control objectives: to ensure accurate financial reports, and to ensure compliance with applicable laws.

Question

Quizplus · Accepted Answer

There are actually five internal control objectives: 
1) Safeguarding assets
2) Ensuring accurate financial reports
3) Promoting operational efficiency
4) Encouraging adherence to prescribed managerial policies
5) Ensuring compliance with applicable laws and regulations.

There Are Only Two Internal Control Objectives: to Ensure Accurate