nternal controls are crucial to global companies because of all of the following risks except: Multiple...
nternal controls are crucial to global companies because of all of the following risks except:
Multiple Choice
-
Possible misstatement of financial information.
-
Possible fraud.
-
Controls are significantly different across the globe.
-
Additional costs of inefficient operations.
-
Management's inability to certify the effectiveness of the controls.
Homework Answers
The answer is Option C. Controls are significantly different across the globe.
Internal Controls are crucial not because of controls are significantly different across the globe. It is because of the risk of Possible misstatement of financial information, Possible Fraud, Additional costs of inefficient operation and Management's inability to certify the effectiveness of the controls.
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Note:
1. Each Company may have two audit reports (one opinion on
financial statements and one for
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into one report.
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