A Well-Designed System of Internal Controls Will Eliminate All Fraud

question 38

True/False

A well-designed system of internal controls will eliminate all fraud.

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Definitions:

Culture

The shared values, norms, beliefs, and practices that characterize an organization, community, or society.

Identify

The process of recognizing or determining the specific characteristics or features of an entity, distinguishing it from others.

Measure

To ascertain the size, amount, or degree of something typically by using an instrument or device.

Organizational Culture Artifact

Visible signs and symbols of an organization’s culture, including rituals, ceremonies, and the physical environment.