Which of the following describes the internal control procedure assignment of responsibilities?
A)Have clearly assigned responsibilities for each position.
B)The company should separate the custody of assets from accounting.
C)To validate their accounting records, a company should have an audit by an external accountant.
D)The external auditors will monitor internal controls.

Question

Quizplus · Accepted Answer

Assigning responsibilities clearly ensures that each employee knows their specific duties, which helps in accountability and reduces the risk of errors or fraud.

Which of the Following Describes the Internal Control Procedure Assignment