Question
For each occurrence below identify the policy(ies), practice(s), or procedure(s) that would be most effective in addressing the error or irregularity. For each control you
For each occurrence below identify the policy(ies), practice(s), or procedure(s) that would be most effective in addressing the error or irregularity. For each control you identify, indicate (1) if it is a preventive, detective, or corrective control, and (2) which of the four internal control objectives is addressed. a. The online data entry process at Tuff Inc. is slow and error prone. b. Data entry clerks at a credit card company input data associated with customer payments by keying in from customer remittance advises. A number of errors have been found in important numerical fields. c. The ink on 10 payroll checks is smudged during processing and the computer operator discards them in the trash. A thief rummaging through the trash discovers the checks, alters the payee and other fields and cashes them. d. Because of a data entry error by a payroll clerk using an online computer system, a worker was paid for 140 hours in one week instead of the 40 hours she actually worked.
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