You dont have the answers for chapter 3 activity #14 questions 2, 3, and 4. Can someone answer these? I need to check my answers that I got. Thanks! This is for Accounting Information Systems 4th edition.
Chapter 3 Imernal Controls 61 b. Information and communication must be done by an individual, while monitoring must be done by a group. c. Monitoring involves ongoing changes to an organization's internal control plan; infor- mation and communication focuses on letting stakeholders know about current internal controls d. Information and communication involves ongoing changes to an organization's internal control plan; monitoring focuses on letting stakeholders know about current internal controls. 2. Which of the following best pairs a specific risk exposure with a category from Brown's taxonomy? a. Company sanctions for violation for the Foreign Corrupt Practices Act, legal and regula- tory risk b. Failure to follow proper imprest systems procedures for petty cash, systems risk c. Failing to give employees proper credit for their accomplishments, credit risk d. Fundamental flaws in an entity's marketing plan, market risk 3. A quarterly internal control newsletter published by the CEO's office would most likely be related to which element(s) of the COSO Internal Control framework? a. Risk assessment, monitoring b. Control environment, information and communication c. Risk assessment, control environment d. Monitoring, information and communication 4. Which of the following is most likely to benefit from a lockbox system as a form of internal control? a. Mortgage lender b. Convenience store c. The IRS d. Home Depot's corporate office 5. All of the following have a responsibility for promoting strong internal control in organiza- tions except: a. Independent auditors. b. Internal auditors. c. Executive management. d. Stockholders. S. Statement evaluation. Indicate whether each of the following statements is (i) always true, (ii) sometimes true, or (ii) never true. For those that are (ii) sometimes true, explain when the statement is true. a. Audits are less time consuming and less expensive in organizations with strong internal control systems