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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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What is meant by “tone at the top”? Why is it so important to an effective system of internal controls?

To determine

Introduction:

Internal Control System:

It basically help employees in controlling the business activities, management puts in place policies and procedures that collectively helps in achieving the goals and objectives of the organization.

The importance of the “tone at the top” to an effective system of Internal Controls.

Explanation

It’s the most important component of the internal control system. It’s set by the top-level management in order to maintain the ethics, integrity and values of the organization by reducing the fraudulent accounting activities and malpractices...

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