Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, identify the internal control principle the company followed. a. Personal ID cards are used to limit access to only authorized em b. The company divides responsibility for a transaction between mi c. Each cashier is designated a specific cash drawer and is solely r d. Preprinted forms are used to reduce the chance of missing trans e. The company's internal auditors frequently assess the performar f. Prohibit the recordkeeper from having control over cash.
Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, identify the internal control principle the company followed. a. Personal ID cards are used to limit access to only authorized em b. The company divides responsibility for a transaction between mi c. Each cashier is designated a specific cash drawer and is solely r d. Preprinted forms are used to reduce the chance of missing trans e. The company's internal auditors frequently assess the performar f. Prohibit the recordkeeper from having control over cash.
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 27CYBK
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Transcribed Image Text:Whole Fruits Market took the following actions to
improve internal controls. For each of the following
actions, identify the internal control principle the
company followed.
a. Personal ID cards are used to limit access to only authorized em
b. The company divides responsibility for a transaction between mi
c. Each cashier is designated a specific cash drawer and is solely r
d. Preprinted forms are used to reduce the chance of missing trans
e. The company's internal auditors frequently assess the performar
f. Prohibit the recordkeeper from having control over cash.
Transcribed Image Text:employees.
multiple departments.
y responsible for cash in that drawer.
nsaction details.
ance of internal controls.
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