Chapter 1-A Flashcards
1
Q
The system by which a company is directed and controlled.
A
Corporate governance
2
Q
A control that detects undesirable events that have already occurred.
A
Detective control
3
Q
A process designed to provide reasonable assurance that objectives are being achieved.
A
Internal control
4
Q
A control that deters undesirable events from occurring.
A
Preventive control
5
Q
A law intended to protect the interests of those who invest in publicly traded companies by improving the reliability and accuracy of corporate financial reports
and disclosures.
A
Sarbanes-Oxley Act of 2002
