Necessary controls in the accounts payable and information technology departments include:
A) adequate documents and records, and proper procedures for record keeping.
B) independent checks on performance.
C) that personnel who record transactions do not have access to cash, marketable securities, or other assets.
D) all of the above

Question

Quizplus · Accepted Answer

All of the above controls are necessary to ensure proper management and safeguarding of assets in the accounts payable and information technology departments. Adequate documenting and record keeping helps prevent errors and fraudulent activity, while independent checks on performance increase accountability and transparency. Separation of duties, such as ensuring personnel who record transactions do not have access to assets, reduces the risk of theft or misuse of company resources.

Necessary Controls in the Accounts Payable and Information Technology Departments