Answered: Duties of controller as defined by the…

Business

Accounting

Duties of controller as defined by the controllers institute of U.S.A?

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter3: Ethics, Fraud, And Internal Control

Section: Chapter Questions

Problem 11P

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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

Question

Duties of controller as defined by the controllers institute of U.S.A?

Ans: 1.The installation and supervision of all accounting records.

2.The preparation and interpretation of financial reports and statements.

3.The continuous audit of accounts and records.

4.The compilation of production and distribution costs.

5.The taking and costing of all physical inventories

6.The maintenance of adequate records of all contacts and leases.

7.The approval for payment of all cheques, promissory notes ets

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