Which of the following is a control that can be instituted to prevent financial fraud?

Question

Quizplus · Accepted Answer

All of the given options are popular control measures for preventing financial fraud. 
- Separation of duties involves dividing financial responsibilities among different individuals to eliminate the possibility of any one person having complete control over financial processes. 
- Internal auditors regularly examine the company's financial records and workflows from within the organization to identify potential frauds or irregularities. 
- Independent auditors, on the other hand, are external third-party firms that provide unbiased and objective reviews of the company's financial statements, internal controls, and compliance with accounting standards and regulations.

Therefore, implementing all three of these measures (separation of duties, internal auditors, and independent auditors) can significantly reduce the risk of financial fraud.

Which of the Following Is a Control That Can Be