Podcast
Questions and Answers
Which of the following can result in fraud and errors that can cause financial statements to be materially misstated?
Which of the following can result in fraud and errors that can cause financial statements to be materially misstated?
- Lack of supervision (correct)
- Adequate segregation of duties
- Granting appropriate access privileges
- Assigning compatible duties to an individual
Access control issues can be similar to which of the following exposure issues?
Access control issues can be similar to which of the following exposure issues?
- Assigning incompatible duties to an individual
- Concealing the crime
- Granting inappropriate access privileges (correct)
- Collusion
What can assigning incompatible duties to an individual often lead to?
What can assigning incompatible duties to an individual often lead to?
- Appropriate access privileges
- Unauthorized access to assets
- Concealing the crime (correct)
- Collusion
What can be used to test all of the management assertions outlined in Table 10.1?
What can be used to test all of the management assertions outlined in Table 10.1?
What may not be apparent from an organizational chart?
What may not be apparent from an organizational chart?
Which of the following is the purpose of output controls?
Which of the following is the purpose of output controls?
What is an example of an output control?
What is an example of an output control?
Where is system output needed for processing accuracy review and error detection?
Where is system output needed for processing accuracy review and error detection?
What can an exception report derived from the Suppliers Invoice file help management assess?
What can an exception report derived from the Suppliers Invoice file help management assess?
What should the total of all reductions to accounts payable equal to?
What should the total of all reductions to accounts payable equal to?
Which of the following is NOT a purpose of output controls?
Which of the following is NOT a purpose of output controls?
Which type of report can help management assess the operational performance of the accounts payable process?
Which type of report can help management assess the operational performance of the accounts payable process?
What can output controls be designed to identify?
What can output controls be designed to identify?
At which junctures is system output needed for processing accuracy review and error detection?
At which junctures is system output needed for processing accuracy review and error detection?
What can an exception report derived from the Suppliers Invoice file help identify?
What can an exception report derived from the Suppliers Invoice file help identify?
