Which of the following is a key control for the transaction-related audit objective of accuracy?
A) The time records are approved by a supervisor.
B) The payroll checks are prenumbered and accounted for.
C) The payroll master file contents are internally verified.
D) The batch totals are compared with computer summary reports.

Question

Quizplus · Accepted Answer

Comparing batch totals with computer summary reports provides a key control to ensure the accuracy of transactions, as it allows for identifying any discrepancies or errors during the processing of transactions. The other options relate to different controls, such as approval of time records (validity), prenumbering of payroll checks (completeness), and internal verification of the payroll master file (existence), but do not specifically address the accuracy objective.

Which of the Following Is a Key Control for the Transaction-Related