Internal control systems: A. guarantee the safeguard of assets. B. are regulated by the Securities and...
Internal control systems:
A. guarantee the safeguard of assets.
B. are regulated by the Securities and Exchange Commission.
C. are the same from company to company.
D. are designed by an organization's management
Homework Answers
Internal control systems are used to control the risks of the organization. It helps in safeguarding the assets of the company however it does not guarantee the safeguard of the assets.
Security and Exchange Commission requires a report of company management on internal control over financial reporting however it does not regulate all the internal controls of companies.
Internal control systems vary depending on the type of business of the company, therefore internal control systems are not the same from company to company.
Internal control systems are designed by the organization's management to control the risks to the company.
Thus the option (D) is correct.
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Internal control systems:
A. guarantee the safeguard of assets.
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