There are three types of controls: preventive, detective, and corrective. List some examples of each type. Explain
Question:
There are three types of controls: preventive, detective, and corrective. List some examples of each type. Explain which type of control auditors would focus on while evaluating a company’s effectiveness of controls and why.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
Preventive controls are designed to deter problems before they arise Preventiv...View the full answer
Answered By
Akshay Singla
as a qualified engineering expert i am able to offer you my extensive knowledge with real solutions in regards to planning and practices in this field. i am able to assist you from the beginning of your projects, quizzes, exams, reports, etc. i provide detailed and accurate solutions.
i have solved many difficult problems and their results are extremely good and satisfactory.
i am an expert who can provide assistance in task of all topics from basic level to advance research level. i am working as a part time lecturer at university level in renowned institute. i usually design the coursework in my specified topics. i have an experience of more than 5 years in research.
i have been awarded with the state awards in doing research in the fields of science and technology.
recently i have built the prototype of a plane which is carefully made after analyzing all the laws and principles involved in flying and its function.
1. bachelor of technology in mechanical engineering from indian institute of technology (iit)
2. award of excellence in completing course in autocad, engineering drawing, report writing, etc
4.70+
48+ Reviews
56+ Question Solved
Related Book For
Accounting Information Systems
ISBN: 978-1260153156
2nd edition
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
Question Posted:
Students also viewed these Business questions
-
There are three types of accounting changes: changes in accounting principles, changes in accounting estimates, and changes in reporting entities. Required Explain the differences and similarities...
-
Compare the following three types of controls: preventive, detective and corrective controls. Give two examples of each type of controls. Which of these types of controls will auditors usually focus...
-
Explain the purpose of (a) preventive controls and (b) detective controls. Why would it be important for an entity to have both types of controls?
-
Suppose that a surgical ward has gathered the following information for four nursing activities and two types of patients for the current period: Required: 1. Determine the total nursing costs...
-
Explain which is greater: the average rate of change of f over [- 3, 0] or over [- 1, 0]. Use the graph of y = f (x) in Figure 9.40 to answer the questions. 4 A 2 y = f(x)
-
Supply the missing income statement amounts for each of the following companies (amounts in millions, at January 31, 2017): Prepare the income statement for Myers Confectionary Ltd., in millions of...
-
Americans do not save as they once did. Weak savings mean fewer investments in the economy, and that contributes to slower economic growth.
-
Presented below is an aging schedule for Gille Company At December 31, 2011, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000.Instructions(a) Journalize and post the...
-
Static Budget versus Flexible Budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown...
-
Barts Company has prepared the PP&E and depreciation schedule shown in Exhibit 8.46.1 below. The following information is available (assume the beginning balance has been audited): The land was...
-
The COSO 2013 internal control framework codifies 17 relevant principles associated with the five components of internal control. Match the following principles with the five components. COSO...
-
1. Based on SOX, which of the following sections is about internal controls? a. 302 b. 401 c. 404 d. 906 2. SOX requires companies to use COSO or COSO ERM as the framework in evaluating internal...
-
In Problem perform the indicated operations and reduce answers to lowest terms. 2 1 3
-
Describe the important components of strategic control. What is an organizational culture? In what ways does the organizational culture influence the control structures?
-
what percentage of the compressor discharge air is used for combustion in a gas turbine engine? what are the four types of turbine engine combustors? where is the highest air velocity in a turbine...
-
Submit Answer Points] Find the sum of the convergent series by using a well-known function. (Round your answer to four decimal places.) 1.0000 00 (-1) + 1 1 n = 1 Need Help? 2nn Read It Watch It W
-
Expand each logarithm. 1) log (6-11) 3) log 5) log 7) log X 2) log (5-3) 4) log (3-2) 6) log ()* 8) log (a b)
-
Remote-control car (RC). How to develop the basic steps involved before mass production can begin? Explain briefly
-
Which of the following is correct about adjusting entries? a. Adjusting entries never affect cash b. Adjusting entries always affect cash c. Both A and B are true. d. Neither A nor B are true.
-
Show that gj concave AHUCQ Abadie For nonnegative variables, we have the following corollary.
-
Which of the following statements about sequence flows is not true? a. Sequence flows are continuous from the start event through activities and gateways, if any, to an end event in a pool. b....
-
Which of the following statements about BPMN is not true? a. Arrows represent sequence flows. b. The BPMN specification is maintained by the Object Management Group (OMG). c. Events are modeled with...
-
Which of the following symbols is used to represent sequence flow in BPMN? a. b. C. d. O
-
A built - in refrigerator is considered:real property that won't transferpersonal property that won't transferpersonal property that will transferreal property that will transfer
-
You may find it helpful to review Chapter 7 , Section 7 . 1 "Pressure in fluids" and Study session 1 1 . 1 "Fluid properties and hydrostatics" before attempting this question. A hydraulic accumulator...
-
A firm with flexible policy of short-term financing will have Option A - lower carrying costs. Option B - All of the listed choices Option C - some investments in marketable equity securities. Option...
Study smarter with the SolutionInn App