College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 7A, Problem 1SEB
To determine
Describe the four types of internal control activities.
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Decribe the role that each of the following areas has in the establishment, maintenance, and evaluation of internal control.
1. Mnangement
2. External auditor
3. Internal
Authorization and Segregation of duties are the part of __________
a.
Internal Control system
b.
Internal check system
c.
Internal audit system
d.
Internal Accounting
1. Explain the term internal controls.
2. Explain two (2) major objectives of a system of internal control.
3.Explain briefly SIX (6) major categories of internal control.
Chapter 7A Solutions
College Accounting, Chapters 1-27
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- Describe the four organization objective categories in the internal control framework. How are they related to the ERM components of internal control?arrow_forwardWhich type of control is considered a compensating control? a. segregation of duties b. access control c. supervision d. accounting recordsarrow_forwardList at least five control measures per control activity principle (Establishment of Responsibility, Segregation of Duties, Documentation Procedures, Physical Controls, Independent Internal Verification, and Human Resource Controls) that an organization may implement to establish internal control procedures.arrow_forward
- List at least 5 control measures per principle of control activities (Establishment of Responsibility, Segregation of Duties, Documentation Procedures, Physical Controls, Independent Internal Verification, Human Resource Controls) which an organization may implement to establish internal control procedures.arrow_forwardInternal Control Elements Identify each of the following as relating to the control environment, control procedures, or information and communication: 1. Organizational structure 2. Report of company's conformity with environmental laws and regulations 3. Proofs and security measuresarrow_forwardAuditing Question 1 A. Define the Internal Control System and discuss three of its main characteristicsarrow_forward
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