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) Divide responsibilities for related transactions.
D) Separate recordkeeping from custody of assets.
E) Perform regular and independent reviews.

Question

Quizplus · Accepted Answer

The principle of internal control is to maintain security by having more than one person track and record assets. This ensures that no single person has complete control over the assets and reduces the risk of fraud or errors. Therefore, Option B is not a valid principle of internal control.

Principles of Internal Control Include All of the Following Except