From an Audit Perspective,an Imprest Bank Account at a Client

question 33

Multiple Choice

From an audit perspective,an imprest bank account at a client can

• A)require less time for the audit of general cash.
• B)increase audit risk.
• C)result in an increase in control risk.
• D)improve client internal controls.

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Definitions:

Poor Financial Control

Refers to inadequate management of finances, leading to inefficiencies, financial instability, or loss.

Growing Too Fast

A situation where a company or organization expands at a rate that is unsustainable, often leading to operational, financial, or quality control issues.

Lack of Strategy

A situation where there is an absence of a clear plan or direction, often leading to ineffective decision-making and organizational performance.

Strategic Leadership

Involves making decisions that ensure an organization's long-term growth, focus, and success, considering the broad and future implications.