Two or More People Working Together to Circumvent Internal Controls

question 165

Multiple Choice

Two or more people working together to circumvent internal controls and defraud a company is known as ________.

• A) encryption
• B) firewall
• C) collusion
• D) separation of duties

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Definitions:

Insurer's Promise

The commitment by an insurance company to pay for losses or damages specified in an insurance policy.

Insurance Contract

A legally binding agreement between an insurer and the insured, outlining the terms for the insurer to compensate the insured for specific losses or damages.

Breach of Contract

Occurs when one party in a binding agreement fails to fulfill their obligations without a legitimate legal excuse.

Obligations

Duties or responsibilities enforced by law, contract, or a sense of duty that compel someone to act or refrain from acting in a certain manner.