The Internal Controls of an Organization Have No Impact on the Efficiency

question 28

True/False

The internal controls of an organization have no impact on the efficiency of an audit.

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Definitions:

Terms of Employment

The conditions under which an employee works, including hours, salary, benefits, and responsibilities.

TOF Timer

A "Timer Off-Delay" type in programmable logic controllers that starts timing when the input turns off and can turn an output on or off after a set delay.

On-Delay Timer

An electromechanical relay with contacts that change state a predetermined time period after the coil is energized; the contacts return to their shelf state immediately on de-energization of the coil; also, a programmable logic controller instruction that emulates the operation of the electromechanical on-delay timer.