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 grocery store uses internal control activities to meet their 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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Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

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