A Good System of Internal Control Does Not Require Monitoring

question 104

True/False

A good system of internal control does not require monitoring.

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Definitions:

Government Regulations

Government regulations are legal directives issued by government bodies to control or manage activities within various industries, often for public welfare, safety, or market fairness.

Optimize

This means to make something as effective, perfect, or functional as possible, often through the use of careful analysis and strategies.

Internal Consensus

The agreement reached within an organization or group on a particular decision or issue.

Add Value

The process of enhancing a product or service before offering it to customers, increasing its value and appeal.