The correct option that describes the use of financial controls is:
- b) identify variances from the financial plan and take corrective actions.
Financial Controls.
This is an extremely important activity to ensure sound management within a company, although it can be used as a preventive measure to avoid possible fraud within the different instances, its main objective is forecasting and correction.
Regularly, financial controls make it possible to establish the company's compliance margin, in financial terms, with respect to the financial plan established at the beginning of a cycle (possibly annual), and in case its compliance is not optimal, take the corresponding measures to achieve it effectively.
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