Question

Internal controls a) are implemented by and are the responsibility of the auditors. B) consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals. C) guarantee that the company complies with all laws and regulations. D) only apply to sec companies.

Answer 1

B) consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals.

------------------------------------------------------------------------------------

Internal controls consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals.