Which of the Following Statements About Internal Control Is Correct

Correct - Your answer is correct. A well-designed and operated internal control environment should.

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Properly maintained internal controls reasonably assure that collusion among employees cannot occur.

. Which of the following statement is correct regarding internal control. It enhances alignment among strategy-setting decision-making and performance through enterprise risk management. An inherent limitation to internal control is the fact that controls can be circumvented by management override.

8 Which of the following statements about internal controls is correct. Are unreadable to unauthorized. Control objectives for EDI systems generally are different from the objectives for other information systems.

Answer b is correct. An inherent limitation of internal control is that controls can be circumvented by management override. The establishment and maintenance of the internal control structure is an important responsibility of the internal auditor.

Control is most effective when only one person is responsible for a given task. Establishing and maintaining internal control is the internal auditors responsibility. Concerning internal control when a client uses an electronic data.

A properly maintained internal control system reasonably ensures that collusion among employees cannot occur b. A properly maintained internal control system reasonably ensures that collusion among employees cannot occur. A A well-designed and operated internal control environment should detect collusion perpetrated by two people B Internal control in a necessary business function should be designed and operated to detect errors and fraud.

Which of the following statements about internal control is correct. An inherent limitation to internal control is the. Exceptionally strong control allows the auditor to eliminate substantive tests.

An attestation engagement about managements internal control assertions may not necessarily detect all reportable conditions. Which of the following statements is correct concerning internal control in an electronic data interchange EDI system. Internal auditors therefore evaluate the effectiveness of among other things a formal code of conduct and related statements and policies.

Segregation of duties involves physically segregating employees so that they are better able to focus on their accounting functions. An exceptionally strong internal control structure is enough for the auditor to eliminate substantive tests on a significant. Preventive controls generally are more important than detective controls in EDI systems.

Because encryption controls are designed to assure that messages. Exceptionally strong internal control is enough for the auditor to eliminate substantive tests on a significant account balance. Properly maintained internal control reasonably ensures that collusion among employees cannot occur.

AA properly maintained internal control system reasonably ensures that collusion among employees cannot occur. A basis for constructive suggestions concerning improvements in internal control. The establishment and maintenance of internal control are important responsibilities of.

The correct answer is letter A. Internal controls are designed to provide reasonable assurance that a. A well-designed internal control environment ensures the achievement of an entitys control objectives.

Which of the following statements about internal control is correct. It stresses the importance of having one department responsible for risk management. Which of the following statements is correct regarding internal control.

The internal audit activity periodically assesses the elements of the ethical climate of the organization and its effectiveness in achieving legal and ethical compliance. Internal control is managements not auditors responsibility. BThe establishment and maintenance of internal control is an.

A basis for reliance on the system of internal accounting control. Preventive controls generally are more important than detective controls in EDI systems. COSO broadly defines internal control as a process effected by an entity s board of directors management and other personnel designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations reliability of financial reporting and compliance with applicable laws and regulations.

A properly maintained internal control process reasonably ensures that collusion among employees cannot occur. B The requirement is to identify the correct statement. The Appealing 50 Free Audit Report Templates Internal Audit Reports ᐅ Regarding Template For Audit Repo Internal Audit Report.

Which of the following is a correct statement about COSO ERM 2017 framework. The establishment and mainetance of internal control is an important responsibility of. Effectively designed internal control reasonably ensures that collusion among employees cannot occur.

Which of the following statements is correct regarding internal control. The establishment and maintenance of internal control is an important responsibility of the internal auditor. Which of the following statements about internal control is correct.

Multiple Choice It focuses on evaluating effectiveness of internal controls. A well-designed internal control environment ensures the achievement of an entitys control objectives. Answer C is correct.

Interchange system for processing its sales. A basis for the determination of the resultant extent of the tests to which auditing procedures are to be restricted. A well-designed and operated internal control environment should detect collusion perpetrated by two people.

The cost of control activities should not exceed the benefits. An inherent limitation to internal control is the fact that controls can be circumvented by management overrideExplanation. An exceptionally strong internal control system is enough for the auditor to eliminate substantive procedures on a significant account balance.

Internal control should provide reasonable but not necessarily absolute assurance which means that. Answer B is correct. Internal controls limit fraud and other internal activities of the organizations.

Which of the following statements about internal control is correct. Internal controls in EDI systems rarely permit control risk to be assessed at below the maximum. The organization put it in place to ensure the integrity of its finance and accounting.

Internal controls related to the segregation of duties. Wrong - Your answer is wrong. Which of the following statements is correct regarding internal control.

The establishment and maintenance of internal control is an important responsibility of the internal auditor.

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