Which of the following is an objective of internal control?
to encourage employees to follow company policies
One of the main objectives of internal control is to ensure the reliability and accuracy of financial reporting. This means that the system of internal controls should help to produce accurate financial statements that comply with applicable accounting standards and provide relevant and reliable information for stakeholders. Other key objectives of internal control include safeguarding company assets, preventing and detecting fraud, ensuring compliance with laws and regulations, and improving operational efficiency and effectiveness. By achieving these objectives, internal control can help to enhance the overall success and sustainability of an organization.
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