Small and large companies can gain cost efficiencies in internal control by
A) focusing financial items that have changed the most from period to period.
B) managing reporting objectives.
C) effectively managing the amount and types of documentation on adequate controls.
D) All of the above will enable small companies to gain cost efficiencies.

Question

Quizplus · Accepted Answer

All the options listed contribute to gaining cost efficiencies in internal control for both small and large companies. Focusing on financial items that have significantly changed helps prioritize areas that might need more attention or reveal potential issues. Managing reporting objectives ensures that efforts are aligned with what needs to be achieved, avoiding wasted resources. Effectively managing the amount and types of documentation helps in maintaining adequate controls without unnecessary complexity or paperwork, streamlining processes and saving time and resources.

Small and Large Companies Can Gain Cost Efficiencies in Internal