{Auditing} 34. Internal Control goes beyond accounting function and incorporates both accounting and administrative control. From the following alternatives identify which one is not a part of administrative control? a. Quality control b. Time studies c. Motion Studies d. Self-balancing ledger

Q: not a part of administrative control

A: Option b is wrong because it is a part of administrative control. Option c is wrong because it is a…

Q: Set policies on internal control Both c) and e)

A: Answer - Set policies on internal control Both c) and e)

Q: From the alternatives given below identify which one is not the objective of Internal Control…

A: Internal control: Internal control is the process which is implemented by the company to protect…

Q: Under what circumstances can you envision management using alternative one rather than alternative…

A: We’ll answer the second question since we require more information to answer first question. Please…

Q: $1: In addition to controls being specific, they may be broad, such as policies regarding code of…

A: Internal control is a process, put in place by an entity which is designed in such a way to provide…

Q: Internal controls do each of the following except: A. Evaluate performance of employees B.…

A: Internal control is a system designed by the organisation for Accounting and auditing purposes which…

Q: om the following alternatives, identify which one is not a part of accounting control? a.…

A: Accounting controls:  Accounting controls consists of the methods and procedures that are…

Q: Which one of the following is NOT a limitation of internal control? Objectives of internal control…

A:

Q: 8 Answer is not complete. a. Evaluating the effectiveness of the client's internal control in…

A: Risk Assessment: The  client’s internal  control  is evaluated to get the effectiveness of it. It is…

Q: Under what circumstances can you envision management using alternative one rather than alternative…

A: Under what circumstances can you envision management using alternative ones rather than alternative…

Q: Internal audit aims to conduct systematic scrutiny of records. Internal audit is described as…

A:

Q: S1. Operational risk, as opposed to efficiency, is the risk of loss resulting from inadequate…

A: Operational risk as opposed to efficiency, is defined as the risk of loss resulting from inadequate…

Q: The purpose of ____________ is to help manage and control risk appropriately rather than to…

A: Internal accounting is the process of preparation of accounting for business transactions. Internal…

Q: Quèstion 1 Which statement is correct concerning the definition of internal control developed by the…

A: SOLUTION-  INTERNAL CONTROL MEANS BY WHICH AN ORGANIZATION'S RESOURCES ARE DIRECTED , MONITORED AND…

Q: Assume that your audit partner asks you to design detailed substantive testing programs for accounts…

A: Considerable testing is a review technique that looks at the fiscal reports and supporting…

Q: ’t these types of controls automatically make a correction in the identified error? Why are…

A: Internal control: Internal control involves the norms and rules which are followed by the company to…

Q: A company limits access to computerized accounting records. What can be said of this procedure? a.It…

A: Limited Access Control: Limited access control is a type of control that provides limited access to…

Q: What are the collective procedures implemented by management to ensure that business activities are…

A: Dear student as per Bartleby answering guideline we can answer the only first independent question…

Q: Which of the following is not the function of audit committee? a)To make recommendations about…

A: An audit committee seems to be a body of non-executive directors appointed by and working under the…

Q: Internal Audit

A: Management accountant heavily depends on internal financial controls like_______ to plug loopholes…

Q: When processing controls within the accounting information system may not leave visible evidence…

A: When processing controls within the accounting information system may not leave visible evidence…

Q: Auditors of ERP systemsa. need not be concerned about segregation of duties because these systems…

A: Auditors of Enterprise Resource Planning: The responsibility of an auditor is to gather knowledge…

Q: 7-Planning involves establishing the overall audit strategy and developing the audit plan. Identify…

A: Audit Planning Audit Planning is on of the important process while performing the Auditing work for…

Q: Which of the following is NOT a general control?* a. Backup of live data b. Use of passwords c.…

A: For data protection and IT security, various types of internal controls is implemented by the…

Q: d. Internal auditing is also known as operational auditing. e. BIR auditing is also known as…

A: Internal Auditing is also Known as Operational auditing   Answer: TRUE   Reason : Operational Check…

Q: The likelihood that material misstatements may have entered the accounting system and notbeen…

A:

Q: {Auditing} 15. Find the nature of materiality if the client incorrectly selects and applies…

A: The nature of materiality refers to the fact that the information included in the financial…

Q: Following are examples of control deficiencies that may represent significant deficiencies or…

A: Whether a deficiency is classified as a significant deficiency or a material weakness is determined…

Q: Which of the following benefits of an effective accounting information system provides safeguards…

A: Definition:   Accounting information system (AIS): An accounting information system (AIS) is a…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Following are the options in which extensive audit procedures are required due to regulations: If…

Q: nternal control can only provide reasonable, not absolute, assurance of achieving entity control…

A: Introduction:- Internal controls are the rules, and regulations and certain procedures executed by a…

Q: Some accountants argue that the receiving department should be eliminated. Discuss the objective of…

A:

Q: Internal control provides reasonable assurance means that ?         internal control has its…

A: Lets know briefly about the reasonable assurance. Reasonable assurance means a assurance which…

Q: Which one of the following is not an objective of a system of internal controls? Select one: 1.…

A: Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the…

Q: From the list of assertions provided, select the relevant assertionts) to each control objective.…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Financial audit Q&A What is the process used by auditors in conducting tests of control in testing…

A: Financial Audit: A financial audit is led to give an assessment of whether budget summaries are…

Q: .Which of the following control objectives in the General Ledger activities under the…

A: Answer: There are control objectives for General ledger activities under record to report process.

Q: How can internal auditors use histograms during internal audits?

A: The internal auditors are meant to analyze the business transactions at internal level.

Q: 1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…

A: $1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…