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Financial Accounting

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Why Do Firms Develop and Monitor Their Internal Controls?

FINACT-@XDWNV

Why do firms develop and monitor their internal controls?

Select ALL that apply.

A

To safeguard their assets

B

To avoid having to comply with Sarbanes Oxley Act of 2002

C

To increase the chances that errors, if they occur, will be found and fixed quickly

D

To understate profits and assets to be conservative