dicate which statements are true and which are false. Bonding key employees helps reduce risk of theft. Hiring auditors to review internal controls increases risk of theft. Establishing responsibilities helps determine who is at fault for errors or fraud. Separating the responsibility for a transaction between two or more individuals or departm stem of internal control.

Contemporary Auditing
11th Edition
ISBN:9781337650380
Author:KNAPP
Publisher:KNAPP
Chapter2: Audits Of High-risk Accounts
Section2.1: Jack Greenberg, Inc.
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Indicate which statements are true and which are false.
1. Bonding key employees helps reduce risk of theft.
2. Hiring auditors to review internal controls increases risk of theft.
3. Establishing responsibilities helps determine who is at fault for errors or fraud.
4. Separating the responsibility for a transaction between two or more individuals or departments n
system of internal control.
Transcribed Image Text:Indicate which statements are true and which are false. 1. Bonding key employees helps reduce risk of theft. 2. Hiring auditors to review internal controls increases risk of theft. 3. Establishing responsibilities helps determine who is at fault for errors or fraud. 4. Separating the responsibility for a transaction between two or more individuals or departments n system of internal control.
ents are true and which are false.
uce risk of theft.
ontrols increases risk of theft.
determine who is at fault for errors or fraud.
transaction between two or more individuals or departments never improves a
Transcribed Image Text:ents are true and which are false. uce risk of theft. ontrols increases risk of theft. determine who is at fault for errors or fraud. transaction between two or more individuals or departments never improves a
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