Internal controls systematically limit the actions and behaviors of employees, processes, and systems within the organization to safeguard assets and to achieve objectives.

Question

Quizplus · Accepted Answer

This statement accurately defines the purpose and function of internal controls within an organization. Internal controls are put in place to prevent fraud, mismanagement, and errors, and to ensure that the organization's objectives are met efficiently and effectively.

Internal Controls Systematically Limit the Actions and Behaviors of Employees