EP AUDITING+ASSURANCE...-MYACCT.LAB
EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Chapter 11, Problem 9RQ
To determine

Identify the differences between separations of operational responsibility from record keeping than to separation of the custody of assets from accounting.

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The separation of operational and recordkeeping responsibilities is intended to avoid various forms of misstatements than the separation of asset custody and accounting. Distinguish the aims of these two distinct forms of division of roles.
Explain the primary functions of internal controls procedures in the accounting area. What is meant by separation of duties?
Discuss the objective of eliminating the receiving function.What accounting/audit problems need to be resolved?
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