Which of the following internal control policies, when absent, would increase the opportunity for fraud A. Mandatory vacations for employees with access to assets B. The absence of any of the given choices increases the opportunity for the fraud C. Job applicant screening for employees with access to assets D. Appropriate segregation of duties or independent checks
Which of the following internal control policies, when absent, would increase the opportunity for fraud A. Mandatory vacations for employees with access to assets B. The absence of any of the given choices increases the opportunity for the fraud C. Job applicant screening for employees with access to assets D. Appropriate segregation of duties or independent checks
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
Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance
Section: Chapter Questions
Problem 15CYBK
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Question
- Which of the following internal control policies, when absent, would increase the opportunity for fraud
A. Mandatory vacations for employees with access to assets
B. The absence of any of the given choices increases the opportunity for the fraud
C. Job applicant screening for employees with access to assets
D. Appropriate segregation of duties or independent checks
2. Whom should the auditors contact when they suspect a fraud?
A. Either the senior management or the audit committee
B. Senior management
C. Audit committee of the board of directors
D. Expected perpetrators of the fraud
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