Clearly identify and explain three internal controls that an organisation can implement within the sales and collection process of an organisation. Your answer should discuss how the identified items are internal controls from the latter context

Q: Which of the following are correct regarding why management uses internal controls? (Check all that…

A: The objective of this question is to identify the correct reasons why management uses internal…

Q: What category of control procedures best describes a reconciliation account, such as Accounts…

A: Internal Controls:   It refers to a process for ensuring the business is conducted in an effective…

Q: The internal control of an organization is made up of O control of the environment. O all of these.…

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: he objective of internal control of purchases is to:

A: Internal control is a process which helps an organization achieve its objectives toward operational…

Q: 35. Which of the following type of evidence is the is most persuasive? a. prenumbered client…

A: Persuasive evidence contemplate to be strong and compelling, and that supports the auditor's…

Q: From a risk perspective, the PRIMARY objective for classifying data is: a) To ensure the…

A: The primary objective of classifying the data in a risk management process is assign and regulate…

Q: One internal control that companies often have is an official “approved vendor” list for purchases.…

A: The approved vendor list (AVL) can be referred to as the list containing the information of the…

Q: Describe the steps that auditors use to test controls over sales and collections. Please provide…

A: Auditors are professionals who are trained to evaluate and review financial records and activities…

Q: Discuss the types of internal controls and explain how each is important to the auditing process.…

A: There are five primary types of internal controls that organizations use to manage risk and protect…