When Used to Monitor and Control Operations, Internal Control Systems

question 95

True/False

When used to monitor and control operations, internal control systems are a low priority for managers.

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Definitions:

Losses

Refers to the decrease in resources, value, or profits, often as a result of business activities, investments, or unforeseen events.

Riskier

Characterized by or involving higher levels of risk; more uncertain or liable to result in adverse outcomes compared to alternatives.

Not-Invented-Here Bias

The tendency to ignore or harbor negative attitudes toward ideas from outside one’s own organization or project team.

Implement

To put into action or execute a plan, process, or instruction.