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[Solved] The objective of internal control is to ____ MCQ

By Pulakesh Nath on April 7, 2022

The objective of internal control is to ____

a) Efficient conduct of business

b) Safeguarding assets

c) Preventing and detecting fraud and other unlawful acts

d) All of these

Answer: d) The objective of internal control is to ensure that the organization meets its objectives of (1) effectiveness and efficiency of operations, (2) reliability of financial reporting, and (3) compliance with applicable laws and regulations. If a company is unable to achieve these goals, it may be subject to penalties, fines, or other actions.

Internal audit is also known as

Internal auditor has to submit report to

Internal audit is done

Internal audit is undertaken

The objective of internal audit is

Objective of internal audit includes

An internal audit department

Internal auditor of a company must be

Internal audit means

Internal auditor is appointed by

Internal audit is