Who Is Responsible for Internal Controls Within an Organization

question 98

Multiple Choice

Who is responsible for internal controls within an organization?

• A)The internal auditor.
• B)The external auditor.
• C)Management.
• D)The PCAOB.

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Definitions:

Local Governments

Administrative bodies that manage and govern specific areas or regions within a country, providing public services and infrastructure.

Surplus

A situation in which the quantity of goods or services supplied exceeds the quantity demanded at the current price.

Tax Revenue

The money that is amassed by governments as a result of taxation.

State Income Tax

A tax imposed by a state on the income of its residents and on income earned within the state by nonresidents.