Question

Why is doing timely reconciliations a key part of internal control activities?
It ensures that

Answer 1

It ensures that the Effective internal control reduces the risk of asset loss, and helps ensure that plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the provisions of applicable laws and regulations. ... Why internal control is important to your plan.

Answer 2

Answer: It is much easier to correct mistakes if they are caught early.

Step-by-step explanation:

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