Fraud Examination
5th Edition
ISBN: 9781305079144
Author: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman
Publisher: Cengage Learning
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Question
Chapter 2, Problem 15MCQ
To determine
The element not a part of the internal control activity (procedure)
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Students have asked these similar questions
Which of the following principles of internal control relates to having prenumbered
documents?
O Physical controls.
O Documentation procedures.
O Segregation of responsibilities.
O HR controls.
Which of the following is not included in the steps to evaluate the internal control system?
a.
Interview Customers
b.
Interview Management
c.
Interview Owners
d.
Interview Employees
Which of the following is not true concerning control activities?
a.Control procedures is another term for control activities.
b. Transaction authorization is a control activity.
c. Information and communication is an important component of control activities.
d. Control activities generally fall into the two categories of preventive controls and detective controls.
Chapter 2 Solutions
Fraud Examination
Ch. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - What are some different types of pressures?Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQ
Ch. 2 - Prob. 12DQCh. 2 - Prob. 1TFCh. 2 - Prob. 2TFCh. 2 - Management's example or modeling is of little...Ch. 2 - Prob. 4TFCh. 2 - Prob. 5TFCh. 2 - Prob. 6TFCh. 2 - Prob. 7TFCh. 2 - Prob. 8TFCh. 2 - Prob. 9TFCh. 2 - Prob. 10TFCh. 2 - Prob. 11TFCh. 2 - Prob. 12TFCh. 2 - Prob. 13TFCh. 2 - Prob. 14TFCh. 2 - Prob. 15TFCh. 2 - Prob. 1MCQCh. 2 - Prob. 2MCQCh. 2 - Prob. 3MCQCh. 2 - Prob. 4MCQCh. 2 - Prob. 5MCQCh. 2 - Prob. 6MCQCh. 2 - Prob. 7MCQCh. 2 - Prob. 8MCQCh. 2 - Prob. 9MCQCh. 2 - Prob. 10MCQCh. 2 - Prob. 11MCQCh. 2 - Prob. 12MCQCh. 2 - Prob. 13MCQCh. 2 - Prob. 14MCQCh. 2 - Prob. 15MCQCh. 2 - Prob. 16MCQCh. 2 - Prob. 17MCQCh. 2 - Prob. 18MCQCh. 2 - Prob. 19MCQCh. 2 - Prob. 20MCQCh. 2 - Prob. 1SCCh. 2 - Case 2
A few years ago, there was a large oil...Ch. 2 - Prob. 3SCCh. 2 - Prob. 4SCCh. 2 - Prob. 5SCCh. 2 - Prob. 6SCCh. 2 - Prob. 7SCCh. 2 - Prob. 8SCCh. 2 - Prob. 9SCCh. 2 - Prob. 10SCCh. 2 - Case 11
As a new staff member in a large national...Ch. 2 - Prob. 12SCCh. 2 - Prob. 13SCCh. 2 - Prob. 14SCCh. 2 - Case 15 But I intended to pay it all back, I...Ch. 2 - Prob. 1.1CSCh. 2 - Prob. 1.2CSCh. 2 - Prob. 1.3CSCh. 2 - Prob. 2.1CSCh. 2 - Prob. 2.2CSCh. 2 - Prob. 2.3CSCh. 2 - 1. What factors in Johnson’s control environment...Ch. 2 - Prob. 3.2CSCh. 2 - Prob. 3.3CSCh. 2 - How did trust contribute to Mr. Armstrongs fraud?Ch. 2 - Prob. 4.2CSCh. 2 - Prob. 5.1CSCh. 2 - Prob. 5.3CSCh. 2 - Prob. 5.4CS
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Similar questions
- Each of the following represents an internal control procedure except for:a. separation of duties.b. limited access to both assets and records.c. compliance monitoring.d. clear lines of authority and communication.arrow_forwardWhich of the following is not an element of internal control? A) Only promoting from within. B) Implement segregation of duties. C) Maintain adequate accounting records. D) Conduct internal audits.arrow_forwardWhich of the following elements of internal control includes maintaining records of employees documenting their compensation and promotion? Control procedures Monitoring Control environment Risk assessmentarrow_forward
- One of the principles of internal control is "establishment of responsibility". This principle does not include: a. one person being responsible for one task. b. independent internal verification. c. authorisation of transactions. d. approval of transactions.arrow_forwardExplain the primary functions of internal controls procedures in the accounting area. What is meant by separation of duties?arrow_forward_____, which constitute one of the most important elements of internal control, include separating responsibilities for related operations. Control procedures Risk assessment activities Information and communication activities Risk monitoring proceduresarrow_forward
- Which of the following is the most complicated principle of internal control and must be an ongoing process that involves a combination of both internal and external sources? a) verification b) recordkeeping c) protection of assetsarrow_forwardFrom the list of assertions provided, select the relevant assertion(s) to each control objective. There are controls in place that will prevent or detect the omission of transactions from the books and records of the organization. accuracy O occurrence O cut-off O completeness O rights and obligations O accuracy, valuation and allocation O existence O classification There are controls in place to ensure that the correct amounts are assigned to the transactions. O classification O occurrence O completeness cut-off accuracy, valuation and allocation O existence O rights and obligations O accuracy There are controls in place to ensure that transactions are charged and allocated to the correct general ledger account. O classification O rights and obligations O completeness O cut-off D occurrence existence accuracy O accuracy, valuation and allocationarrow_forwardOperating system security involves policies, procedures, and controls that determine who can access the operating system. User access privileges are assigned to individuals and to entire workgroups authorized to use the system.The way access privileges are assigned influences system security. Priviliges should be carefully administered and closely monitored for compliance with organizational policy. Choose one of the options below, that is not a test of control of the audit objective relating to access privileges. a. Review employee records to determine whether users have formally acknowledged their responsibility to maintain the confidentiality of company data.b. Review the privileges of a selection of user groups and individuals to determine if their access rights are appropriate for their job descriptions and positions.c. The auditor should verify that individuals are granted access to data and programs based on their need to know.d. Review the account lockout policy and procedures…arrow_forward
- what are some examples of internal controls? How are internal controls related to the Sarbanes-Oxley legislation? Separately, what is the role of the internal audit function in an organization, and how does this function relate to internal control?arrow_forwardWhich of the following is NOT one of the purposes of internal control? a. to guarantee the success of the business b. to safeguard the entity’s assets and resources c. to deter errors, fraud, and theft d. to ensure the accuracy and completeness of the accounting dataarrow_forwardAll of the following are internal control procedures excepta. Sarbanes-Oxley reforms.b. assignment of responsibilities.c. adequate records.d. internal and external audits.arrow_forward
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