In the Following Situation,which Internal Control Procedure Needs Strengthening

question 71

Multiple Choice

In the following situation,which internal control procedure needs strengthening?
- The controller's duties include approving bank reconciliations,approving general journal entries,hiring administrative staff,and approving various types of administrative expenses.She needs new computer equipment for the accounting office,but there are no guidelines specifying whether she can approve purchases of office equipment.

• A) Assignment of responsibilities
• B) Competent, reliable, and ethical personnel
• C) Separation of duties
• D) Documents

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Definitions:

Nonattorney Status

The classification of an individual who is not licensed to practice law or deliver legal advice.

Initial Client Interview

The first meeting between a client and a professional (usually a lawyer) to discuss the client’s issue, objectives, and possible representation.

Expert Witness

A specialist in a particular field whose opinion may help a court understand evidence or determine the fact of an issue.

Hostile Witness

A witness whose testimony is not favorable to the party calling them to testify, often showing obvious bias or reluctance.