Which of the following is not a fundamental control element the auditor would expect to find in place for all cash processing systems?

Question

Quizplus · Accepted Answer

While restrictive endorsement of checks, independent reconciliation, and prenumbered cash receipt documents are all fundamental control elements the auditor would expect to find in place for all cash processing systems, a walkthrough is not directly related to control over cash processing. A walkthrough is a process where the auditor traces a specific transaction from start to finish through the accounting system to gain an understanding of how the system operates and identify potential control weaknesses.

Which of the Following Is Not a Fundamental Control Element