A company requires the controller's e-approval for all fixed asset purchases in excess of $50,000. Audit software can be used to identify if there are any instances where a fixed asset purchase in excess of $50,000 lacked the controller's e-approval, instead of manual checking.

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Quizplus · Accepted Answer

The statement indicates that audit software can be used to identify cases where the controller's e-approval was not provided for fixed asset purchases over $50,000. This suggests that the process can be automated using technology, rather than relying on manual checks, making it more efficient and reducing the risk of errors.

A Company Requires the Controller's E-Approval for All Fixed Asset