An accounting system that maintains an adequate audit trail is implementing which internal control procedure?
A) access controls
B)Segregation of functions
C) independent verification
D) accounting records

Question

Quizplus · Accepted Answer

An accounting system that maintains an adequate audit trail is implementing the internal control procedure of accounting records. This involves keeping detailed records of all transactions, making it easy to follow the flow of money and detect errors or fraud through inspection and reconciliation. Access controls, segregation of functions, and independent verification are also important internal control procedures, but they are not directly related to maintaining an adequate audit trail.

An Accounting System That Maintains an Adequate Audit Trail Is