Principles of internal control include all of the following except:
A)Apply technological controls.
B)Maintaining security by having one person track and record assets.
C)Perform regular and independent reviews.
D)Separate recordkeeping from custody of assets.
E)Divide responsibilities for related transactions.

Question

Quizplus · Accepted Answer

The principle of maintaining security by having one person track and record assets is not accurate. This violates the principle of segregation of duties. The correct practice would be to have different individuals responsible for tracking, recording, and securing assets to prevent fraudulent activity.

Principles of Internal Control Include All of the Following Except