Establishing a Viable Internal Control System Is Primarily the Responsibility

question 48

Multiple Choice

Establishing a viable internal control system is primarily the responsibility of:

• A) the external auditors
• B) management
• C) programmers
• D) government authorities

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Definitions:

Ratification

The formal validation of a proposed contract, amendment, or treaty, often requiring official approval to become legally effective.

Ratify

To formally approve or confirm an agreement or action, making it officially valid.

Disaffirms

To legally reject or void a contract or agreement, especially one entered into by minors or under conditions that invalidate consent.

Disaffirmance

The legal right of a minor to void contracts or agreements entered into, under specific conditions.