Final answer:
The processes and procedures in question are known as internal controls, which include various practices to ensure financial integrity, accountability, and fraud prevention.
Step-by-step explanation:
Processes and procedures that restrict and monitor input, processing, and output to provide reasonable assurance that organization objectives are being met are referred to as internal controls. These are set of practices and procedures put in place by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. Internal controls are designed to address operational effectiveness and efficiency, reliable reporting, and compliance with laws and regulations.
For instance, a company might use physical controls, such as locked doors and surveillance cameras, segregation of duties to ensure no one individual has control over all aspects of a financial transaction, and authorization controls to ensure proper approval of transactions.