The objectives of internal controls include the following: - To improve effectiveness and efficiency of operations -
Question:
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
Auditing Assurance And Risk
ISBN: 9780324313185
3rd Edition
Authors: W. Robert Knechel, Steve Salterio, Brian Ballou
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