Which of the following is an attribute of the internal control procedure "assignment of responsibilities"?
A)To validate their accounting records,a company should have an audit by an external accountant.
B)The company should separate the custody of assets from accounting.
C)The external auditors will monitor internal controls.
D)Have clearly assigned responsibilities for each position.

Question

Quizplus · Accepted Answer

The attribute of the internal control procedure "assignment of responsibilities" is to have clearly assigned responsibilities for each position. This means that each employee should know their role and duties and be held accountable for them, which helps to prevent errors and fraud. The other options (A, B, and C) are not attributes of the "assignment of responsibilities" internal control procedure.

Which of the Following Is an Attribute of the Internal