Which of the following are principles of internal control? (Check all that apply.) Multiple select question. Increase revenues. Establish responsibilities. Maintain adequate records. Reduce vendor payables. Perform regular and independent reviews. Divide responsibility for related transactions.

Q: Which of the following is a common monitoring control? Multiple Choice O audit committee inquiries…

A: Internal controls are the rules and procedures implemented by a company to ensure compliance with…

Q: What is data inconsistency? occurs when a system produces correct and consistent data the practice…

A: Solution- Data inconsistency is a situation where there are multiple tables within a database that…

Q: Which internal control principle prescribes the use of pre- numbered printed checks? Multiple Choice…

A: Internal control are rules and policies followed by a business to protect its assets and prevent…

Q: 6. Input validation checks (application controls) are applied to every bill…

A: Management assertions are made by members of the management. In order to rely on these claims, the…

Q: From an IT audit perspective, Business Continuity Plan (BCP) completeness reflects the current state…

A: Evaluating a Business Continuity Plan's (BCP) completeness is a crucial component of an IT audit.…

Q: "hich of the following is not a principle ôf internal Control?

A: Internal controls are the controls used to safeguard the business from internal frauds. Internal…

Q: Principles of internal control include all of the following except Multiple Choice Divide…

A: The Answer is Option 2 : Separate Recordkeeping from custody of Assets. Rest of the options are…

Q: Indicate the primary audit objective for the following audit procedure: Determine whether sales…

A: Auditing is the process of examining financial statements, records, and other financial information…

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: 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: In terms of effectiveness and efficiency of operations, as well as of meeting the generic…

A: Sending a copy of the Purchase Order (PO) from the purchasing department to the receiving department…

Q: Internal control is enhanced by separating the control of a transaction from the record-keeping…

A: Internal control function is implemented in the organizations so that internal policies and…

Q: Requirements 1. 2. Define internal control. The system of internal control must be tested by…

A: Define internal control: Internal control refers to the set of policies, procedures, and practices…

Q: A key internal control over the acquisition cycle is to ensure that the company requires recording…

A: Solution: A key internal control over the acquisition cycle is to ensure that the company requires…

Q: Entity-level controls support broad organizational objectives while direct controls support…

A: Under the transactional approach this is all about the status the leaders who are involved in such…

Q: 19. Which of the following is the best way to compensate for inadequate segregation of duties? a.…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Multiple Select Question Select all that apply   Identify the principles of internal…

A: The objective of this question is to identify the principles of internal control from the given…

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…

Q: Which assertion is most likely being tested when an auditor vouches transactions from the sales…

A: In auditing and financial reporting, an assertion refers to a representation or statement made by…