Which of the following is an attribute of the internal control procedure—assignment of​ responsibilities?         A. The external auditors will monitor internal controls.   B. The company should separate the custody of assets from accounting.   C. Each position has clearly assigned responsibilities.   D. To validate their accounting​ records, a company should have an audit by an external accountant.

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 32CYBK
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Which of the following is an attribute of the internal control
procedure—assignment
of​ responsibilities?
 
 
 
 
A.
The external auditors will monitor internal controls.
 
B.
The company should separate the custody of assets from accounting.
 
C.
Each position has clearly assigned responsibilities.
 
D.
To validate their accounting​ records, a company should have an audit by an external accountant.
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