Question

nternal control is defined as the procedures and processes used by a company to safeguard its assets. process information accurately. ensure compliance with laws and regulations. All of these choices are correct.

Answer 1

Internal control is defined as the procedures and processes used by a company to safeguard its assets, process information accurately and to ensure compliance with laws and regulations.

Internal control

Internal controls also include the measures a company takes to ensure its employees comply with all laws and regulations and do not steal company assets. Physical controls like door locks, area restrictions, safes and surveillance equipment are internal controls, too.

Internal controls are policies, procedures, and technical safeguards that protect an organization's assets by preventing errors and inappropriate actions. Internal controls fall into three broad categories: detective, preventative, and corrective.

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