Answer to Question #78976 in Accounting for Owen Marsden

Question #78976
The board is concerned about the internal control procedures currently in place. Why is it important that these be reviewed and, if necessary, modifications made?
1
Expert's answer
2018-07-17T12:22:08-0400
Revision of internal control procedures with a view to its improvement will facilitate timely detection and prevention of negative production and financial trends in the economic system, as well as a necessary prerequisite for effective counteraction to risky operations, reduction transaction costs in the company.

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