Management's objectives with respect to internal control include
A)having reasonable assurance that the financial statements are in accordance with IFRS or ASPE.
B)ensuring that all policies and procedures are clearly documented to reduce employee training costs.
C)preventing fraud and illegal activities at all costs.
D)providing reasonable assurance that the company can achieve its objectives and goals.

Question

Quizplus · Accepted Answer

Management's main objective with respect to internal control is to provide reasonable assurance that the company can achieve its objectives and goals. While preventing fraud and ensuring compliance with reporting standards are important, they are not the primary focus of internal control. Documenting policies and procedures may be important for training purposes, but it is not a primary objective of internal control.

Management's Objectives with Respect to Internal Control Include