Employers Establish Specific Policies Defining Theft and Fraud and Discipline

question 74

True/False

Employers establish specific policies defining theft and fraud and discipline procedures. This is an example of a concurrent control measure to control employee theft.

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Definitions:

Maximum Cash Balance

The highest amount of cash that a company aims to hold at any given time.

Internal Control

Protocols and processes designed by a business to secure the authenticity of its financial and accounting information, enhance accountability, and impede fraudulent operations.

Control Environment

The set of standards, processes, and structures that provide the foundation for carrying out internal control across the organization.

Proofs And Security Measures

Protocols and systems implemented to protect data, transactions, and assets against unauthorized access, theft, or modification.