You Are a Senior Auditor on a New Audit Client

question 104

Essay

You are a senior auditor on a new audit client.Your supervisor has asked you to audit the cash disbursements of the new client.You begin by gaining an understanding of the flow of transactions and have identified the following risk (what could go wrong): A check may not be recorded.
Identify at least two controls that may address this risk.

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Definitions:

Leaders

Leaders are individuals who influence and guide others within an organization or group, often responsible for making decisions and setting directions.

Dispatching

The process of sending off something to a destination or for a specific purpose, often used in the context of manufacturing and logistics.

Production Control

The systematic planning, coordination, and direction of all manufacturing activities to ensure that products are produced efficiently, to quality standards, and on time.

Quality Control

The process of ensuring that products and services meet the required quality standards before they are delivered to the customer.