Internal Control Is a Process Designed to Guarantee the Achievement

question 50

True/False

Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting, compliance with laws and regulations and ineffective and inefficient operations.

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Definitions:

Comprehensive Surveys

Broad and extensive surveys designed to gather data on a wide range of subjects or variables.

IBM

A multinational technology company known for its computer hardware, software, and IT services and consulting.

Hewlett-Packard

An American multinational information technology company known for developing and providing a wide variety of hardware components, software, and related services.

Creeping Bureaucracy

Refers to the gradual increase in bureaucratic processes and procedures within an organization, often leading to decreased efficiency.