Which of the following is considered one of the six most important internal control procedures?
A)Computerized accounting systems
B)The board of directors
C)Proper authorizations
D)Verification by government agencies

Question

Quizplus · Accepted Answer

Proper authorizations are considered one of the six most important internal control procedures as they ensure that transactions are approved by authorized personnel and prevent unauthorized transactions. This helps to mitigate the risk of errors, fraud, and misappropriation of assets. The other options are not part of the six most important internal control procedures. Computerized accounting systems can be a useful tool for internal control, but they are not a specific procedure. The board of directors is responsible for overseeing the organization's governance, but they do not perform specific internal control procedures. Verification by government agencies may be important in certain industries, but it is not a specific internal control procedure.

Which of the Following Is Considered One of the Six