Describe the purpose of an internal control framework. Describe two internal controls the medical office could implement. Identify two effects of not having internal controls in a medical office?
Answer (2)
An internal control framework is crucial for maintaining integrity and compliance in a medical practice. Implementing segregation of duties and regular audits can protect against fraud and inefficiencies. Without these controls, a practice faces increased risks of fraudulent activities and operational challenges. ;
An internal control framework in a medical office ensures operational integrity and compliance, helping to reduce risks like fraud and errors. Implementing segregation of duties and regular audits are two effective internal controls. Without these controls, a practice may face increased fraud risks and operational inefficiencies.
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