Solved

Match Each Description to the Following Principles of Internal ControL

Question 246

Matching

Match each description to the following principles of internal controL

Premises:
Involves the review, comparison, and reconciliation of data prepared by other employees.
Provide evidence that transactions and events have occurred.
Includes the authorization and approval of transactions.
Rotating employees' duties and requiring employees to take vacations.
Related activities should be assigned to different individuals.
Using garment sensors to deter theft.
Responses:
Establishment of responsibility
Segregation of duties
Documentation procedures
Physical controls
Independent internal verification
Human resource controls

Correct Answer:

Involves the review, comparison, and reconciliation of data prepared by other employees.
Provide evidence that transactions and events have occurred.
Includes the authorization and approval of transactions.
Rotating employees' duties and requiring employees to take vacations.
Related activities should be assigned to different individuals.
Using garment sensors to deter theft.
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