Which one of the following is not a fundamental control element the auditor would expect to find in place for all cash processing systems?

Question

Quizplus · Accepted Answer

Electronic payments are not a fundamental control element the auditor would expect to find in place for all cash processing systems. While electronic payments could be a control element for some cash processing systems, it is not universally applicable to all cash processing systems like the other options (segregation of duties, authorization of transactions, and periodic internal audits) which are fundamental controls that should be present in all cash processing systems.

Which One of the Following Is Not a Fundamental Control