Which of the following is not part of the definition of internal control? Separation of duties Safeguard assets Encourage employees to follow company policies Promote operational efficiency

Q: Indicate which statements are true and which are false. The primary objective of internal control…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: not a part of administrative control

A: Option b is wrong because it is a part of administrative control. Option c is wrong because it is a…

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A:

Q: S8-1 Defining internal control Internal controls are designed to safeguard assets, encourage…

A: The question is based on the concept of Auditing

Q: The use of a bank account addresses which objective of internal control? Group of answer choices…

A: A bank account is an account with a bank for an enterprise. It reflects the balance of cash kept in…

Q: Authorization of transactions is a key control in most organizations.Authorizations should not be…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Segregation of duties is an important internal control. However,this control is often a challenge…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: nich of the following is not stated as a primary objective of a company's internal control policies…

A: Internal control is an organization is designed and implemented by management.

Q: A system of internal control can be rendered ineffective by employee collusion. is premised on the…

A: Internal control is the process or system which is designed by the management so as to provide the…

Q: Which of the following is NOT one of the purposes of internal control? a. to guarantee the success…

A: Internal control involves procedures and policies to ensure the integrity of the accounting…

Q: Which one of the following is NOT the main responsibility of Executive Directors in a company? a. To…

A: The question is multiple choice question. Which one of the following is NOT the main responsibility…

Q: According to COSO, internal control is a:

A: According to COSO: Internal control is not a set of rules because the internal control document…

Q: The objectives of internal control are to a. prevent fraud and promote the social interest of the…

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: The main purposes of internal controls include all of the following except Multiple Choice…

A: Correct answer is  increase the operating expenses of publicly traded companies

Q: How does the enterprise risk management influence the internal control detective identified?

A: Introduction: Control is a managerial function that aids in measuring actual performance by…

Q: Match each of the following control activities with its definition. Control Activities…

A: Given below control activities are matched with the definition:

Q: What are management’s and auditors’ respective responsibilities regarding internal control?

A: Internal control: Internal controls are set by management. it is important to understand that…

Q: entity's control environment.

A: Control environment is a component of internal control system.

Q: Which of the following is not considered to be part of the internal control structure of a…

A: Every business organisation has its own objectives and goals. Business wants to achieve that goals…

Q: Which of the following is not included in the steps to evaluate the internal control system? a.…

A: Internal Control System = It is set of rules, procedures and policies of an organization implements…

Q: Who oversees the organization’s system of internal control? a. None of the choices b. Process…

A: The internal controls are related to the organisation behaviour and process.

Q: A company limits access to computerized accounting records. What can be said of this procedure? a.It…

A: Limited Access Control: Limited access control is a type of control that provides limited access to…

Q: The factors affecting control risk include: O The environment in which the company operates The…

A: CONTROL RISK IS THE LIKELIHOOD THAT A MATERIAL MISSTATEMENT WOULD NOT BE CAUGHT BY THE CLIENT'S…

Q: Question 9 Which of the following is not considered to be part of the internal control structure of…

A: components of Internal control structure :  control environment , Risk assessment , control…

Q: Internal control procedures are important in every business, but at what stage in the development of…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: What is the concept behind separation of duties in establishing internal control? a. Employee fraud…

A: Answer:   Option a

Q: Distinguish management’s responsibility from the audit committee’s responsibility for designing and…

A: Anti-fraud programs and controls depict the actions taken by the management to prevent and mitigate…

Q: Select the appropriate control activities for each of the following definitions. Definitions Control…

A: a. Physical control

Q: S8-1 Definition of internal control Internal controls are designed to safeguard assets, encourage…

A: The Four Most Important Objectives are : Ensuring Accurate Records Promotes Operational Efficiency…

Q: Shelly Eckert has prepared the following list of statements about internal control. Identify each…

A: based on the given data we nee d to identify if the statements is true or false

Q: Internal control is said to be the backbone of all businesses. Which of the following is the…

A: Every business organisation has its own objectives and goals. Business wants to achieve that goals…

Q: Segregation of duties is an important concept in internal control. However, segregation of duties is…

A: Segregation of duties: It refers to assigning various duties associated with the same process. It…

Q: Question 1 (i) Which of the following is not an example of internal control risk? A. Risks of…

A: Answers have been given in the next sheet.

Q: Which of the following is an attribute of the internal control procedure—assignment of​…

A: The process by which the operational efficiency and effectiveness in the organizational objectives…

Q: system of supervision and control

A: Option a is wrong because internal check is the test to verify the given item or procedure. It is…

Q: Question 1 According to the Committee of Sponsoring Organizations (COSO), the proper segregation of…

A: Combining the task of payment preparation and circulation to the employees means that all parts of…

Q: Internal control does not consist of policies and procedures that a. ensure employees and managers…

A: Internal control consists of policies and procedures which is implemented in the organisation so…

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A: Answer:  Publish accurate financial statements on a regular basis.

Q: According to SAS 78/COSO, the proper segregation of functions is an effective internal control…

A:

Q: A company wants to implement good internal control. What are the policies and procedures you can…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: Which of the following is more likely to occur when an entity has effective internal controls?…

A: Internal control means the mechanisms, rules, procedures etc. which are implemented by a company to…

Q: internal control ensures the substantial accuracy of managerial and financial report

A: Internal control is said to be adequate if it can reduce the frauds or errors to minimum.

Q: An Internal Control System will not Assists compliance with laws and regulations Helps ensure the…

A: The controls implemented by the business entity to prevent certain frauds and to ensure the…

Q: Explain the primary functions of internal controls procedures in the accounting area. What is meant…

A: Internal control: The internal control refers to the plan of a company. Implementation of effective…

Q: Allowing only certain employees to order goods and services for the company is an example of what…

A: The question talks about internal control procedure and seeks to know that the scenario listed is an…

Q: Which of the following is not one of the categories of control activities? a.Checks on recorded…

A: Control activities are implemented by a entity as a part of internal control in order to safeguard…

Q: Why do companies need internal control?

A: A company id defined as the legal form of business organization, which is incorporated by group of…

Q: rimary role of internal controls in managing a business? a.To ensure that the financial statements…

A: