The internal control flowchart is an example of:
A)A supporting schedule.
B)An administrative working paper.
C)A lead schedule.
D)A corroborative working paper.

Question

Quizplus · Accepted Answer

An internal control flowchart is an example of an administrative working paper, which is used to document and analyze an organization's internal control system. It provides a visual representation of the flow of transactions through the system and helps identify potential weaknesses in the control environment. Supporting schedules are used to provide detailed backup for financial statement amounts, while lead schedules are used to summarize account balances. Corroborative working papers are used to support the results of analytical procedures.

The Internal Control Flowchart Is an Example Of