A properly designed system of internal controls is an integral part of the accounting system.

Question

Quizplus · Accepted Answer

A system of internal controls is essential for ensuring the accuracy and reliability of accounting information. It helps to prevent and detect errors, fraud, and other irregularities. Without internal controls, there is a higher risk of financial misstatements and other issues that can result in incorrect financial reporting.

A Properly Designed System of Internal Controls Is an Integral