Answered: Define the Internal Control System and…

Business

Accounting

Define the Internal Control System and discuss three of its main characteristics

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 41RQSC

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Auditing

Question 1

A. Define the Internal Control System and discuss three of its main characteristics

Processes and procedures involved in achieving the organizational goals and objectives for the daily operations of a company. Control systems involve all the operational control systems, their implementation, and strategic control processes.

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