Which of the following is true for accounting anomalies?
A)They are primarily caused by lack of training.
B)They represent intentional sabotage of controls.
C)They are problems caused by failures in systems, procedures, and policies.
D)They represent fraud.

Question

Quizplus · Accepted Answer

Accounting anomalies are problems or irregularities in financial statements caused by failures in systems, procedures, and policies. They are not necessarily intentional or fraudulent, but rather a result of errors or weaknesses in internal controls. Lack of training could contribute to these anomalies, but it is not the primary cause. Sabotage of controls and fraud are also possible causes, but not the only ones.

Which of the Following Is True for Accounting Anomalies