Take the following as truth: A solid foundation of control and accountability requires a system of checks and balances that provides reasonable assurance that the entity's transactions are appropriately recorded and reported, its assets protected, its established policies followed, and its resources used economically and efficiently for the purposes intended.
Then the following statement: "Control and accountability happen organically, so any system of checks or reporting is unnessecary." is true, false, or inconclusive?
Answer: False