Maximum benefit from review and reconciliation is obtained when
A)it is made on a pre-announced basis.
B)it is done by the employee possessing custody of the asset.
C)discrepancies are reported to management.
D)it is done at the time of the external audit.

Question

Quizplus · Accepted Answer

Discrepancies being reported to management ensures that any issues identified during the review and reconciliation process are addressed and corrected, maximizing the benefit of the process by improving accuracy and accountability.

Maximum Benefit from Review and Reconciliation Is Obtained When