Some of the Benefits of a Properly Implemented Internal Control

question 22

Multiple Choice

Some of the benefits of a properly implemented internal control program include:

• A) increased costs, operational challenges, new opportunities, and unforeseen benefits.
• B) improved overall IT governance and enhanced understanding of IT by senior executives.
• C) effective written documentation of controls and segregation of duties.
• D) Both A and C.
• E) All of the above.

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Definitions:

Significance Level

The threshold below which a p-value is considered statistically significant, typically set at 0.05 or 5%.

Population Means

The average value of a particular characteristic for all the individuals within a population.

Pooled Variance

A method used to estimate the variance of two or more different samples that assume the underlying population variances are equal.

Sample Variances

A measure of variance calculated from a sample of a population, used to estimate the variance of the entire population.