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 goals and objectives important to the entity have been met.

Question

Quizplus · Accepted Answer

Management's objectives with respect to internal control are not solely focused on financial reporting. They also include achieving operational goals and objectives that are important to the entity. Therefore, providing reasonable assurance that the goals and objectives important to the entity have been met is the best choice. Option A is partially correct but does not address non-financial goals, while options B and C are incorrect.

Management's Objectives with Respect to Internal Control Include