Internal Control Is a Process Affected by the Organization's Board

question 54

Multiple Choice

Internal control is a process affected by the organization's board of directors, management, and other personnel to provide reasonable assurance of achieving certain objectives. Which of the following does not fit into one of these categories of objectives?

• A) Reliability of financial reporting.
• B) Compliance with laws and regulations.
• C) Continuing existence.
• D) Effectiveness and efficiency of operations.

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Definitions:

Process Consultants

Professionals who assist organizations in analyzing and improving their processes, often focusing on the effectiveness and efficiency of operations.

Dispute Resolution Skills

Abilities or techniques used to resolve conflicts, disagreements, or disputes effectively.

Communication Skills

The ability to convey or exchange information effectively through various means.

Third-Party Involvement

The participation or intervention of an entity not directly involved in a matter to facilitate resolution or decision-making.