Match the following terms with their definitions. 1. Internal control
2. Control procedures
3. Firewalls
4. Encryption
5. Environment
6. Information system
7. Separation of duties
8. Collusion
9. Documents
10. Audits
11. Operational efficiency
12. Risk assessment
13. Sarbanes-Oxley Act

a. Two or more people working together to overcome internal controls.
b. Part of internal control that ensures resources are not wasted.
c. Requires companies to review internal control and take responsibility for the accuracy and completeness of their financial reports.
d. Should be prenumbered to prevent theft and inefficiency
e. Limits access to a local network.
f. Example: The person who opens the bank statement should not also be the person who is reconciling cash.
g. Identification of uncertainties that may arise due to a company's products, services or operations.
h. Examination of a company's financial statements and accounting system by a trained accounting professional.
i. Without a sufficient one of these, information cannot properly be gathered and summarized.
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.
k. Component of internal control that helps ensure business goals are achieved.
l. Rearranges data by a mathematical process-
m. To establish an effective one, a company's CEO and top managers must behave honorably to set a good example for employees.

1. Internal control  - 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. (J)

2. Control procedures  - Component of internal control that helps ensure business goals are achieved. (K)

3. Firewalls  - Limits access to a local network. (E)

4. Encryption - Rearranges data by a mathematical process. (I)

5. Environment - To establish one a company, CEO and top managers must behave honorably to set a good example for employees. (M)

6. Information system - Without a sufficient one of these information cannot properly be gathered and summarized. (I)

7. Separation of duties - Example: The person who opens the bank statement should not also be the person who is reconciling cash. (F)

8. Collusion - Two or more people working together to overcome internal controls. (A)

9. Documents - Should be pre-numbered to prevent theft and inefficiency (D)

10. Audits  - Examination of a company's financial statements and accounting system by a trained accounting professional. (H)

11. Operational efficiency  - Part of internal control that ensures resources are not wasted (B)

12. Risk assessment - Identification of uncertainties that may arise due to a company's products services or operations . (G)

13. Sarbanes-Oxley Act - Requires companies to review internal control and take responsibility for the accuracy and completeness of their financial reports. (C)

correct, but each time you dont pay the price of the penalty can increase.

an online clothing brand

explanation: