What is meant by internal control in an organization?

Internal control refers to a comprehensive framework within an organization intended to ensure the achievement of its objectives. This involves various processes and protocols designed to provide reasonable assurance regarding the effectiveness and efficiency of operations, the reliability of financial reporting, and compliance with applicable laws and regulations.

Option C accurately captures the essence of internal control by emphasizing its role in providing assurance that an organization can achieve its specific goals and objectives. These objectives can range from efficient operational processes to the reliability of financial statements, which are crucial for stakeholders' trust and regulatory compliance.

Organizations implement internal controls to identify risks, safeguard assets, prevent and detect errors or fraud, and ensure reliable financial reporting—ultimately contributing to the organization’s overall integrity and operational success.