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It is when you take responsibility for someone else's property.
Let's say you work in a business and a package is being delivered for someone in the office but you sign for the package, then you are taking that responsibility of getting that package to the right person it is intended for.
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What are the Five methods of internal control of cash?
establishment of responsibility segregation of duties documentation procedures physical, mechanical, and electronic controls independent internal verfication
Which circular defines management's responsibility for internal control in Federal agencies?
Omb a-123
What are the elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
Who is responsible for making sure an organization's internal control system is adequate?
The board of directors and its audit committee have responsibility for making sure the internal control system within the organization is adequate
Individuals who accept personal responsibility for their life outcomes may be described as having?
n internal locus of control.
What are elements of internal control?
An organization establishes a system of internal control to help it manage many of the risks it faces, such risks are classified as follows:- * Inherent Risk * Control Risk * Detection Risk Establishing an internal control is the responsibility of the management, the elements (components) of internal control framework are the following:- * Control environment * Risk Assessment * Control Activities * Information & Communication * Monitoring
How may management's responsibility toward effective internal control systems be described?
top management at a publicly owned organization will include in the organization's annual financial report to the shareholders a statement indicating that management has established a system of internal control
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
What reforms did the National Assembly introduce?
The establishment of public trials The establishment of freedom of the press The elimination of internal tariffs The termination of trying people in court on the basis of class (APEX)
There are GAO internal control standards?
there are how many GAO internal control standards?
Which is a type of detective internal control?
Which of the following is a type of "detective" internal control
Examples of staff structure in an organization?
Show organization structure whose involve in the establishment with responsibility
