AUDITING+ASSURANCE SERVICES (LL)
AUDITING+ASSURANCE SERVICES (LL)
11th Edition
ISBN: 9781266448119
Author: MESSIER
Publisher: MCG
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Chapter 7, Problem 7.2RQ
To determine

Concept Introduction:

Internal control is a procedure designed by a company to ensure whether the company’s financial or operational process is done according to the company’s regulations/policies or not, and also helps to make operations more efficient and effective which effect to make company’s financial report more reliable.

To Describe: The term likelihood and magnitude’s roles in evaluating the significance of control deficiency

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