What is the difference in an internal control flowchart and a system flowchart?
A) An internal control flowchart uses fewer symbols than a system flowchart.
B) An internal control flowchart shows functional areas to indicate the authorization of transactions, the custody of assets, and the recording of transactions.
C) An internal control flowchart is prepared prior to preparing a system flowchart.
D) An internal control flowchart needs an auditor's input for accurate development.

Question

Quizplus · Accepted Answer

An internal control flowchart focuses on the internal controls over transactions and shows functional areas to indicate the authorization of transactions, the custody of assets, and the recording of transactions. On the other hand, a system flowchart shows how data flows through a system, including inputs, processes, and outputs, but does not specifically focus on internal controls. The other options are incorrect statements.

What Is the Difference in an Internal Control Flowchart and a System