Which of the following is not a generally recognized internal control activity?
A)separation of the custody and record keeping responsibilities for any business activity
B)internal review of business transactions by the board of directors
C)internal review of business transactions by the internal auditors
D)independent verification of the work of one employee by another employee

Question

Quizplus · Accepted Answer

While the board of directors does oversee internal controls through its governance responsibilities, it is not a generally recognized internal control activity in and of itself. The other options (A, C, and D) are all recognized internal control activities, as they help to ensure separation of duties, independent reviews, and verification of work.

Which of the Following Is Not a Generally Recognized Internal