Establishing a hierarchy to let all management and employees know what is going on in a company would be an example of what element of internal control?

Question

Kaley Lester

Business

31 March, 03:27

Establishing a hierarchy to let all management and employees know what is going on in a company would be an example of what element of internal control?

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Answers (1)

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Amaris Mata · Answer 1

Information and communication

Explanation:

Internal control refers to the management procedures in place used to accomplish the objectives such as promote efficient and effective operations, ensure the reliability and integrity of financial information, safeguard the organisation's assets, etc. A good system of internal control is essential to the availability of information and a clear and obvious strategy for communicating obligations and expectations.