Which of the Following Statements About Internal Control Is Correct

Establishing and maintaining internal control is the internal auditors responsibility. A properly maintained internal control process reasonably ensures that collusion among employees cannot occur.

Internal Control1 Internal Control Internal Audit Exam Study

Internal controls are designed to provide reasonable assurance that a.

. Segregation of duties involves physically segregating employees so that they are better able to focus on their accounting functions. Properly maintained internal control reasonably ensures that collusion among employees cannot occur. BThe establishment and maintenance of internal control is an.

A value-added-network VAN must be used to assure proper control. A basis for constructive suggestions concerning improvements in internal control. 8 Which of the following statements about internal controls is correct.

A properly maintained internal control system reasonably ensures that collusion among employees cannot occur. The establishment and maintenance of internal control is an important responsibility of the internal auditor. Which of the following statements about internal control is correct.

An inherent limitation to internal control is the fact that controls can be circumvented by management override. Which of the following statements about internal control is correct. Exceptionally strong internal control is enough for the auditor to eliminate.

All of the entitys objectives and related internal controls are relevant to an audit of the entitys financial. Which of the following statements about internal control structure is correct. Which of the following statements is correct regarding internal control.

The establishment and maintenance of internal control is an important responsibility of the internal auditor. Other options- Option B- Option B is true because m. Encryption controls may help to assure that messages are unreadable to unauthorized persons.

An exceptionally strong internal control system is enough for the auditor to eliminate substantive procedures on a significant account balance. Internal control eliminates the possibility of fraud and error O b. Internal control is relevant to the entire entity or to any of its operating units or business functions.

Which of the following statements about internal control is correct Select one a from BSAT 101 at AMA Computer University. COSO broadly defines internal control as a process effected by an entity s board of directors management and other personnel designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations reliability of financial reporting and compliance with applicable laws and regulations. Answer1 Option A is not correct Explanation- Internal control does not provide a guarantee against loss although internal controls help to minimize loss.

Effectively designed internal control reasonably ensures that collusion among employees cannot occur. The establishment and maintenance of the internal control structure is an important responsibility of the internal auditor. B The establishment and maintenance of internal control is an.

There is no relationship between an entitys objectives and the components of internal control. Internal control provides reasonable assurance about the achievement of the entitys objectives O c. Controls should be established over determining that all suppliers are included in the system.

Attention must be paid to both the electronic and paper versions of transactions. Which of the following statements about internal control is correct. Properly maintained internal controls reasonably assure that collusion among employees cannot occur.

The establishment and maintenance of internal control are important responsibilities of. View the full answer. A well-designed internal control environment ensures the achievement of an entitys control objectives.

Exceptionally strong control allows the auditor to eliminate substantive tests. Answer C is correct. An inherent limitation of internal control is that controls can be circumvented by management override.

A well-designed and operated internal control environment should. Which of the following statements is correct regarding internal control. Control is most effective when only one person is responsible for a given task.

A basis for reliance on the system of internal accounting control. Exceptionally strong internal control is enough for the auditor to eliminate substantive tests on a significant account balance. The establishment and maintenance of internal control is an important responsibility of the internal auditor.

A A properly maintained internal control system reasonably ensures that collusion among employees cannot occur. Which of the following statements about internal control is correct. Properly maintained internal control reasonably ensures that collusion among employees cannot occur.

AA properly maintained internal control system reasonably ensures that collusion among employees cannot occur. Which of the following statements about internal control is correct. A basis for the determination of the resultant extent of the tests to which auditing procedures are to be restricted.

A properly maintained internal control system reasonably ensures that collusion among employees cannot occur. Which of the following statements about internal control is correct. An understanding of internal control relevant to each of the.

An auditor cannot rely on internal controls under any circumstances to reduce the possibility of fraud. The establishment and maintenance of internal control is an. Which of the following statements about internal control is correct.

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