Insuring assets and requiring all accounting personnel to have CPA licenses are two important principles of internal control.

Question

Quizplus · Accepted Answer

Insuring assets is a principle of internal control, but requiring all accounting personnel to have CPA licenses is not necessarily a principle. While having qualified and trained employees is important, there are other ways to ensure competency and knowledge, such as requiring specific education and experience, providing ongoing training and development, and implementing strict policies and procedures.

Insuring Assets and Requiring All Accounting Personnel to Have CPA