ROLE OF INTERNAL CONTROL Internal control systems include policies and procedures designed to provide reasonable assurance that
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ROLE OF INTERNAL CONTROL Internal control systems include policies and procedures designed to provide reasonable assurance that the corporation’s objectives are being met in three areas:
a. effectiveness and efficiency of operations
b. reliability of financial reporting
c. compliance with applicable laws and regulations Like any other business, a bookstore uses internal control activities to meet its objectives in these three areas.
Required:
Attempt to name a control for each area and describe how the control helps accomplish the store’s objectives in these areas.
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Related Book For
Cornerstones Of Financial Accounting Current Trends Update
ISBN: 9781111527952
1st Edition
Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen
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