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Explain What Lapping Means, and Discuss the Internal Control Deficiency

question 93

Essay

Explain what lapping means, and discuss the internal control deficiency that allows it to occur. Also discuss the procedures the auditor can perform to detect lapping.


Definitions:

Tolerance Levels

The predetermined thresholds of risk that an organization or individual is willing to accept or deal with.

EPA

The Environmental Protection Agency, a U.S. federal agency responsible for protecting human health and the environment through regulations and various initiatives.

Toxic Substances Control Act

A United States law enacted in 1976 designed to regulate the introduction and use of chemicals and toxic substances in the environment.

Clean Air Act

A comprehensive federal law in the United States that regulates air emissions from stationary and mobile sources in order to protect public health and the environment.

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