Chapter 8, Problem 2MC

Internal control is said to be the backbone of all businesses. Which of the following is the best description of internal controls?

A. Internal controls ensure that the financial statements published are correct.

B. The only role of internal controls is to protect customer data.

C. Internal controls and company policies are important to protect and safeguard assets and to protect all company data and are designed to protect the company from fraud.

D. Internal controls are designed to keep employees from committing fraud against the company.