The most important fundamental component of an entity's internal control is: Effectiveness of operations. People who operate and function within the control system. Reliability of financial reporting. Compliance with applicable laws and regulations.
The most important fundamental component of an entity's internal control is: Effectiveness of operations. People who operate and function within the control system. Reliability of financial reporting. Compliance with applicable laws and regulations.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 5CYBK
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Question 29
The most important fundamental component of an entity's internal control is:
Effectiveness of operations. |
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People who operate and function within the |
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Reliability of financial reporting. |
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Compliance with applicable laws and regulations. |
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