Answered: processing

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter7: Planning The Audit: Identifying, And Responding To The Risk Of Material Misstatement

Section: Chapter Questions

Problem 22MCQ

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Which of the following is NOT a rule that would guide system designers in segregating duties in a firm? The Board of Directors should appoint the same individual as Chairman and CEO The organization should be structured so that the perpetration of a fraud requires collusion between two or more individuals Asset custody should be separate from the task of asset record keeping Transaction authorization should be separate from transaction processing

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