Physically locking up assets and electronically securing other assets and information is required by the internal control principle of:
A) restricting access.
B) establishing responsibilities.
C) segregation of duties.
D) documenting procedures.

Question

Quizplus · Accepted Answer

The principle of restricting access requires physically locking up assets and electronically securing other assets and information to prevent unauthorized access. This is an important aspect of internal control as it helps to protect the organization's assets and data from theft, fraud or other forms of misuse. By restricting access to essential resources, the organization can also ensure that only authorized personnel handle sensitive information, reducing the risk of data breaches or privacy violations.

Physically Locking Up Assets and Electronically Securing Other Assets and Information