Question
Which of the following is an incorrect statement related to internal controls? a). Unannounced physical counts should be conducted to verify the presence of company-owned
Which of the following is an incorrect statement related to internal controls?
a). Unannounced physical counts should be conducted to verify the presence of company-owned equipment.
b). Businesses should prepare an authority manual that guides both specific and general authorizations.
c). Employees should be properly trained to perform their jobs.
d). A good system of internal controls is designed to eliminate errors and fraud.
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Auditing and Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
6th edition
978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343
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