Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

There are six main categories of Internal Control. Choose two of the six and explain how a company might use them. 1. Establishment of responsibility.

There are six main categories of Internal Control. Choose two of the six and explain how a company might use them.

1. Establishment of responsibility.

2. Segregation of duties.

3. Documentation procedures.

4. Physical, mechanical, and electronic controls.

5. Independent internal verification.

6. Other controls: Bonding, Rotating Duties

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

explain what is meant by redundancy

Answered: 1 week ago