Which of the following scenarios reduces the risk of an employee fraud? Group of answer choices An accountant being responsible for approving payments to a vendor   The bank reconciliation being prepared by an accountant   Remittance advices being sent directly to the cashier   A sales clerk having access to the cash register

Q: Bank confirmations are critical to the cash audit. What information does the auditor obtain by…

A: Answer:-  Cash audit:- A specific kind of accounting audit called a "cash audit" focuses on cash…

Q: Why do organizations have policies regarding the use of assets and why do staff need to be aware of…

A: 1. Why do organizations have policies regarding the use of assets, and why do staff need to be aware…

Q: Bank confirmations are critical to the cash audit. What information does the auditor obtain by…

A: Cash audit:- A specific kind of accounting audit called a "cash audit" focuses on cash transactions…

Q: At Carlson Services, the cashier collects checks and cash from customers, and the junior accountant…

A: Internal control procedures are a set of policies and practices implemented by an organization to…

Q: Consider how an organization must manage cash and receivables. Which of the two is the most…

A: How an organization must manage cash and receivables? Cash and receivables management is important…

Q: Which of the following does not demonstrate internal control practices? a. Allowing access of…

A: Internal control is a set of measures instituted by management and designed to help. achieve the…

Q: The fraud triangle asserts that the following three factors must exist for a person to commit…

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: Which of the following fraudulent activities most likely could be perpetrated due to the lack of…

A: The auditor Is responsible for forming an opinion on the financial statement and the main reason for…

Q: What type of internal controls are job rotation, preparation of bank reconciliations, segregation of…

A: Internal control: Internal control is a policy or procedures enforced by management in an…

Q: Does the sale of accounts receivable to generate immediate cash harm or mislead anyone?  Would you…

A: Answer: Selling of accounts receivable to generate cash is defined under a process called factoring.…

Q: Which of the following reflects a weak internal control system? Oa. All employees must take their…

A: Internal control system assures the efficient and effective utilization of firms assets by setting…

Q: Which of the following are external threats to revenue security? (select all that apply) A guest who…

A: Effective revenue security appears to be a security method in which a company verifies that the…

Q: would help an auditor determine whether accounts payable have been misstated?     Examining…

A: Accounts payable (AP) is the sum owed to creditors and suppliers by a corporation (also referred to…

Q: Answer

A: Step 1: Why do organizations have policies regarding the use of assets, and why do staff need to be…

Q: Match definitions with vocabulary terms) Use theseterms to complete the statements that follow. You…

A: Internal Control:   Internal control refers to the policies, and plans of the business organization…

Q: Explain the difference between computer fraud and general fraud. Explain both categories of fraud in…

A: The auditor will fix the objectives of audit, and the audit team will follow that to complete the…