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What do documentation procedures and independent internal verification procedures have in comm O They are components of collusion that internal controls should be designed to prevent. O They are the components of internal control that are repeated most often ina voucher system. They are required by insurance companies in order to bond employees. O They are required by external auditors in order to evaluate internal control systems.

What do documentation procedures and independent internal verification procedures have in comm O They are components of collusion that internal controls should be designed to prevent. O They are the components of internal control that are repeated most often ina voucher system. They are required by insurance companies in order to bond employees. O They are required by external auditors in order to evaluate internal control systems.

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 40CYBK
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What do documentation procedures and independent internal verification procedures have in common? O They are components of collusion that internal controls should be designed to prevent. O They are the components of internal control that are repeated most often in a voucher system. They are required by insurance companies in order to bond employees. They are required by external auditors in order to evaluate internal control systems.
Transcribed Image Text:What do documentation procedures and independent internal verification procedures have in common? O They are components of collusion that internal controls should be designed to prevent. O They are the components of internal control that are repeated most often in a voucher system. They are required by insurance companies in order to bond employees. They are required by external auditors in order to evaluate internal control systems.
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