Just like anything in accounting, internal control systems are not perfect, although they do reduce the risk of undetected errors and irregularities.

Name: Just like anything in accounting, internal control systems are not perfect, although they do reduce the risk of undetected errors and irregularities.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Internal control systems are not foolproof and can't guarantee that errors or irregularities will not occur. However, they do minimize the risk of such occurrences going unnoticed.

Just Like Anything in Accounting, Internal Control Systems Are Not