When considering the effectiveness of internal control, the auditor should recognize that inherent limitations do exist.  Which of the following is an example of inherent limitations in a client's internal control?  Group of answer choices  Procedures are designed to assure the execution and recording of transactions in accordance with management's authorization.  In the performance of most control procedures, there are possibilities of errors arising from mistakes in judgment.  The effectiveness of procedures depends on the segregation of employee duties.  Procedures for handling large numbers of transactions   are processed by electronic data processing equipment

Q: policies and procedures О vacation policy О development of control activities information technology

A: Internal Control System-Internal controls are accounting and auditing processes used in a company's…

Q: One important aspect of internal control is the segregation of duties, which makes certain types of…

A: Segregation of duties means seperating the record-keeping function from the operational…

Q: Management is primarily responsible for maintaining effective internal control and ensuring the…

A: If management does not create an effective control environment, the company may face financial…

Q: ll statements are true B. all statements are false C. S1 and S2 are true D. S1 and S3 are true

A: Correct option : A

Q: Which of the following is not a common procedure for assessing operating effectiveness of preventive…

A: Preventive controls is a measure of safeguards implemented by an organisation to proactively…

Q: Your organisation is disturbed that some staff members are clocking on for others who do not report…

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: A company implements internal controls to improve the chances that employee will function according…

A: SOLUTION- Internal controls are the mechanisms, rules, and procedures implemented by a company to…

Q: Controls that enhance the accuracy and reliability of the accounting records are automated…

A: Accounting control is the manner in which process are configured to. Manage risk within an…

Q: Which of the following is an inherent limitation of any client's internal control? Multiple Choice •…

A: The inherent limitation of any client's internal control is the possibility of human error,…

Q: Auditors have two strategies to choose from, the lower-assessed control risk strategy and the…

A: Incorrect (c)Auditors can always choose to use the predominantly substantive strategy regardless of…

Q: What form of internal control documentation will an auditor likely use when they are not personally…

A: An Auditor is the person qualified as a Chartered Accountant who takes care of Audit.

Q: Segregation of duties is one of the most important control activities to minimize incompatible…

A: Segregation of duty is a control mechanism that is implemented and used in order to reduce the risk…

Q: When planning the audit of internal controls for an issuer, the audit team shoulda. Identify…

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: Internal control policies and procedures have limitations not including:

A: An internal control policies are put forward by the company and which are implemented so that the…

Q: In which of the following circumstances would an auditor expect to find that an entity had…

A: Definition: Audit: Audit is the process of verification of the compliance of the financial…

Q: Summarize the internal control procedure of maintaining adequate records by selecting the correct…

A: Internal control procedures are crucial for ensuring the reliability and integrity of financial…

Q: Select the appropriate control activities for each of the following definitions. Definitions Control…

A: a. Physical control

Q: Marsha Mason, CPA, believes that it is appropriate to obtain an understanding of internal control…

A: Understanding of internal controls is a preliminary step in planning the audit as it will help the…