In the Following Situation, Which Internal Control Procedure Needs Strengthening

question 74

Multiple Choice

In the following situation, which internal control procedure needs strengthening? The controller's duties at New Era Inc. 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:

Self-Assessment

An individual's evaluation of their own performance, skills, or qualities, often for personal development.

Poor Performance

The situation in which an employee's work does not meet established standards or expectations.

Lack of Ability

A situation where an individual does not have the necessary skills or competencies to perform a job or task effectively.

Pay Dissatisfaction

The state of being unhappy or discontented with one's remuneration, often leading to demotivation and decreased productivity.