An organization's system of financial and other controls, established in order to provide reasonable assurance of effective and efficient operation, internal financial control and compliance with laws and regulations is referred to as a system of:
A) Governance
B) Audit
C) Risk management
D) Internal control

Question

Quizplus · Accepted Answer

The correct answer is D) Internal control. An organization's system of internal control is designed to provide reasonable assurance regarding the achievement of objectives in the effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

An Organization's System of Financial and Other Controls, Established in Order