objectives of controls are of primary interest to an auditor performing a financial statement audit--- Accurate and reliable financial reporting.
What are the primary objectives of internal control?
The primary purpose of internal controls is to help safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws.
What are the 5 internal controls in auditing?
There are five interrelated components of an internal control framework: control environment, risk assessment, control activities, information and communication, and monitoring.
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<span>According to Lawrence and Lorsch, the stability of an organization's environment determine(s) the degree of differentiation or integration that is necessary.
Lawrence and Lorsch developed the contingency theory which involves organizations and changes in the environment. They watch how organizations change and perform based on what is changing around them and then how they adapt to the change.
For them, differentiation is defined as organization systems breaking into smaller subsystems. Integration is defined as how well the subsystems work together to complete the overall task of the organization.
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Answer:
$4
Explanation:
the relevant total cost is 4 dollars
True it is a non market transaction
