In Searching for Breakdowns of Internal Controls by Collusion and Fraud

question 50

Multiple Choice

In searching for breakdowns of internal controls by collusion and fraud, auditors:

• A) should check all journal entries made on holidays, weekends, and late at night.
• B) should discuss with employees any journal entry which has been made to reduce liabilities or increase owners' equity.
• C) should verify all journal entries and values associated with consolidations which resulted for work within spreadsheets.
• D) should obtain an understanding of the internal control processes regarding journal entries and other adjustments.

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Definitions:

Operational Definition

A clear, concise detail of a variable used in a study, ensuring that it can be measured, manipulated, and/or controlled.

Heart Rate

The number of heartbeats per unit of time, typically expressed as beats per minute (bpm).

Anxiety

A feeling of worry, nervousness, or unease, often about an imminent event or something with an uncertain outcome.

Index

A method or system for organizing and accessing information, or a statistical measure representing changes in a variable or group of variables.