Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the purpose of internal controls?
What is the purpose of internal controls?
- To eliminate the need for organizational structures
- To ensure that all employees are satisfied
- To achieve business objectives and mitigate risk (correct)
- To increase the workload of management
Where do control activities occur within the enterprise?
Where do control activities occur within the enterprise?
- Throughout the enterprise, at all levels and in all functions (correct)
- Only at the senior management level
- Only in the human resources department
- Only in the finance department
What do control activities include?
What do control activities include?
- Only approvals and authorizations
- Verifications, reconciliations, and reviews of operating performance (correct)
- Social media management
- Only security of assets
