1. Internal control is a process effected by an entity's board of directors, management, and other personnel that is designed to provide reasonable assurance regarding the achievement of objectives. (True/False)
2. What are the two main objectives for conducting preliminary analytical procedures?© BrainMass Inc. brainmass.com June 3, 2020, 11:39 pm ad1c9bdddf
1 - True
2 - Analytical Procedure involves the computation of ratios and other comparisons of recorded amounts ...
The solution confirms Internal control definition and identifies main objectives for conducting preliminary analytical procedures.