Internal control is concerned only with enhancing the accuracy of the accounting records." Do you agree with

Answer 1

No. Internal controls should be in place to ensure balance of power, that those who approve disbursements aren't the same ones writing the checks, that disbursements are approved at the appropriate levels before invoices are paid, etc, etc.

Answer 2

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RE:
Internal control is concerned only with enhancing the accuracy of the accounting records." Do you agree with

Answer 3

Internal Controls Are Concerned With

Answer 4

Disagree. A well thought out and properly running internal control system should help ensure operational effectiveness and operational success as well as the accuracy of accounting records. The internal controls under review as part of Sarbanes Oxley only deal with the accuracy and completeness of the accounting records.

Answer 5

No. Internal control provides senior management/the board of directors with a method of assessing and evaluating that standards and safeguarding of corporate assets occur. This goes way beyond just insuring accuracy in accounting. Issues like proper access to company data files and issuing company checks also are part of this. Additionally internal control has expanded to include operational audits which concentrate not only on proper controls being followed but also that operations are run efficiently.

Answer 6

3. I disagree. Enhancing financial accuracy is like a subset to internal control .There is a lot to internal control than just financial accuracy. Effective internal control must provide the following; safeguard company assets, enhance the reliability (accuracy) of financial records, and increase efficiency of operations.

Answer 7

Hi Strawberry ((((Hugs)))): I'm not certain what to expect at that meeting. I know the Bible says that we will have to account for every word we speak, that we will be judged for everything we did in our bodies, whether good or bad. I take that seriously. It certainly is a comfort that the judge will be my loving Savior who is the very one interceding for me now. But that makes it all the more important to me as well. Less scary, but more important. If there is someone over you in your life (a parent, grandparent, teacher...) who you think the world of, it is all the much harder to be told that your actions disappointed that person. I do not want that to be the case with my Lord. I know even at this point in my life I have made many mistakes, but my hope is that I will be able to stand before him knowing that everything I've done has ALREADY been dealt with between him and I. Thank you so much for the questions and the observations. Its funny, I'd been reading that very same scripture the day you posted this question. I love to see how God's spirit works in unity among his body. God bless you sis!