Which of the Following Is the Best Audit Procedure for the Detection

question 45

Multiple Choice

Which of the following is the best audit procedure for the detection of lapping?

• A)Comparison of postings of cash receipts to accounts with the details of cash deposits.
• B)Confirmation of the cash balance.
• C)Reconciliation of the cash account balances.
• D)Preparing a proof of cash.

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Definitions:

Biometrics

The process of quantifying and statistically examining the distinct physical and behavioral traits of individuals, employed for the purposes of identification and managing access.

Two Factor Authentication

A security process in which users provide two different authentication factors to verify themselves, enhancing the security of account access.

Social Media Sites

Online platforms where users can create, share, or exchange information and ideas in virtual communities and networks.

Online Banking

A service provided by banks that allows customers to conduct financial transactions over the internet.