Question
Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial
Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies. A broad concept, internal control involves everything that controls risks to an organization. Internal control plays an important role in the prevention and detection of fraud. Companies that operated in a computerized environment must design an appropriate control mechanism that broadly classified as General and Application controls. REQUIRED: a. Briefly explain the THREE objectives of internal control
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