QS $8-1($Algo$)$ Internal control objectives LO C$1$

Indicate which statements are true and which are false.

Hiring auditors to review internal controls increases risk of thet.

Separation of recordkeeping for assets from the custody over assets helps reduce fraud.

The primary objective of internal control procedures is to saleguard the business against thett from government agencies.

Internal control procedures should be designed to protect assets from waste and thett.