Risk exposures in the general ledger and financial reporting systems include all of the following except
A)defective audit trail
B)unauthorized access to the general ledger
C)loss of physical assets
D)general ledger account is out of balance with the subsidiary account

Question

Quizplus · Accepted Answer

Loss of physical assets is not a risk exposure in the general ledger and financial reporting systems. The other options listed, such as a defective audit trail, unauthorized access to the general ledger, and an out-of-balance general ledger account with a subsidiary account are all potential risk exposures that could affect the accuracy and reliability of financial reporting.

Risk Exposures in the General Ledger and Financial Reporting Systems