An Essential Part of the Auditor's Responsibility in Auditing Cash

question 36

True/False

An essential part of the auditor's responsibility in auditing cash receipts is to identify deficiencies in internal control that increase the likelihood of fraud.

---

Definitions:

Two-Factor Theory

A psychological theory proposed by Herzberg that suggests employee satisfaction and dissatisfaction are influenced by two separate sets of factors: motivators and hygiene factors.

Personal Rewards

Benefits or compensations received by an individual as a result of their actions or achievements, which can be intrinsic or extrinsic.

Status

The relative rank, prestige, or social standing of an individual or group within a society or organizational hierarchy.

Security

Measures and protocols implemented to protect people, property, or information from threats and unauthorized access.