Banking · Internal Audit & Risk Controls
Internal controls are a major element of governance because they support accuracy, compliance, safeguarding of assets, and prevention of misuse. Effective internal controls are most closely associated with:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1systematic risk mitigation, segregation of duties, and reliable financial reporting✓
- 2removal of audit trails for faster execution
- 3higher profitability irrespective of compliance
- 4unrestricted operational freedom without process checks
Correct answer
systematic risk mitigation, segregation of duties, and reliable financial reporting
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