Which one of the following is not a fundamental internal control the auditor would expect to find in place for a cash processing system?
A)Segregation of duties.
B)Electronic payments.
C)Authorization of transactions.
D)Periodic internal audits.

Question

Quizplus · Accepted Answer

Electronic payments, while they may have their own set of internal controls, are not necessarily a fundamental internal control for a cash processing system. The other options (segregation of duties, authorization of transactions, periodic internal audits) are all key control measures to ensure the accuracy and reliability of the cash processing system.

Which One of the Following Is Not a Fundamental Internal