Question: Term Definition 1 . Internal control 2 . Control procedures j . The organizational plan and all related measures that safeguard assets, encourage employees to

Term Definition

1 .

Internal control

2 .

Control procedures j

.

The organizational plan and all related measures that safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting data.

3 .

Firewalls e

.

Limits access to a local network.

4 .

Encryption l

.

Rearranges data by a mathematical process.

5 .

Environment

6 .

Information system

7 .

Separation of duties

8 .

Collusion

9 .

Documents

10 .

Audits h

.

Examination of a company's financial statements and accounting system by a trained accounting professional.

11 .

Operational efficiency

12 .

Risk assessment g

.

Identification of uncertainties that may arise due to a company's products, services or operations.

13 .

Sarbanes

-

Oxley Act c

.

Requires companies to review internal control and take responsibility for the accuracy and completeness of their financial reports.

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