The objectives of internal controls include the following: - To improve effectiveness and efficiency of operations -

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The objectives of internal controls include the following:

- To improve effectiveness and efficiency of operations

- To increase reliability of accounting information

- To foster compliance with rules and regulations 

An average retail grocery store, like any other business, uses numerous internal controls to meet these objectives. Consider your local grocery store and list at least two examples of controls for each objective. Discuss how each one of them accomplishes one or more of the objectives for internal controls.

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Related Book For  book-img-for-question

Auditing Assurance And Risk

ISBN: 9780324313185

3rd Edition

Authors: W. Robert Knechel, Steve Salterio, Brian Ballou

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