Your Exposure to Risk Increases If Your Organization Has One

question 41

Short Answer

Your exposure to risk increases if your organization has one or more factors that increase _____________ probabilities.

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Definitions:

Internal Control

Processes designed to provide reasonable assurance regarding the achievement of various objectives such as the effectiveness and efficiency of operations.

Documentation Procedures

The processes and methods for systematically recording and organizing documents and records pertinent to business operations.

Prenumbered Checks

Checks that are sequentially numbered for tracking purposes and to prevent fraud.

Approved Invoice

An invoice that has been reviewed and authorized for payment by the designated party or department within a company.