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Purposes of an internal control system

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Summarize the primary purposes of an internal control system.

What are the three internal control objectives for financial reporting?

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The response addresses the queries posted in 232 words with APA references. It discusses the purposes of internal control systems and objectives of financial reporting.

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Purposes of Internal Control

Internal control systems are defined as the assure processes that are adopted by the management of the business firm, in order to check efficiency, and practicable conduct of the business activities, so that the organization easily carries out its objectives. The following are the primary purposes of an internal control system:

· To furnish internal ...

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Ashish Sharma, MBA (IP)
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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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