Question

Corporate Strategy and Risk Management practice task 100: Which statement would correct a common misunderstanding about internal control? Focus on strategy and risk in this variation.

Accepted Answer

B. Internal control provides reasonable, not absolute, assurance over objectives Explanation: Controls reduce risk but face limitations such as judgement, collusion, override and cost-benefit constraints.

Corporate Strategy and Risk Management practice task 100: Which statement would correct a common misunderstanding about internal control? Focus on strategy and risk in this variation.

Corporate Strategy and Risk Management practice task 100: Which statement would correct a common misunderstanding about internal control? Focus on strategy and risk in this variation.

Correct Answer: B. Internal control provides reasonable, not absolute, assurance over objectives

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