Which of the Following Internal Control Features Would an Auditor

question 64

Multiple Choice

Which of the following internal control features would an auditor be least likely to review?

• A)Segregation of the asset-handling and record-keeping functions.
• B)Company policy regarding credit and collection efforts.
• C)Classification of sales and cost records by products.
• D)Authorisation of additions to plant and equipment.

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Definitions:

Problem-Solving

The process of finding solutions to difficult or complex issues.

Statistical Analysis

The process of collecting, examining, interpreting, and presenting numerical data to gain insights or support decision making.

Creative Problem Solving

Creative problem solving is a method of approaching a problem or challenge in an innovative or unconventional way to find a novel solution.

Assigned Portion

A specified segment or piece of a broader task or project delegated to an individual or group.