Internal controls are concerned with

Question

Quizplus · Accepted Answer

Internal controls are concerned with ensuring that a company's assets are properly safeguarded against theft, fraud, or misuse. While internal controls may be influenced by government regulations and can impact the preparation of income tax returns, their primary focus is on protecting a company's assets. Manual systems of accounting can also benefit from internal controls, but they are not exclusively concerned with such systems.

Internal Controls Are Concerned with