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Homework answers / question archive / A properly designed internal control system: A

A properly designed internal control system: A

Business

A properly designed internal control system:

A. Lowers the company's risk of loss.

B. Insures profitable operations.

C. Eliminates the need for an audit.

D. Requires the use of non-computerized systems.

E. Is not necessary if the company uses a computerized system.

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Answer choice: A. Lowers the company's risk of loss.

A properly designed internal control system lowers the company's risk of loss. An internal control system puts forth policies and procedures that make it more difficult for fraud to occur. A good example of this is the concept of separation of duties. This requires different employees to perform different tasks to reduce the opportunity for fraud.