The impact of technology on internal controls includes:
A) Elimination of the need for regular audits.
B) Reduced processing errors.
C) Elimination of separation of duties.
D) Elimination of fraud.
E) Elimination of the need to bond employees.

Question

Quizplus · Accepted Answer

Technology can improve the accuracy and efficiency of processing, thus reducing the likelihood of processing errors. However, technology cannot completely eliminate the need for regular audits, separation of duties, or bonding of employees, as these are necessary components of strong internal controls. Furthermore, while technology can assist in detecting fraud, it cannot eliminate fraud entirely.

The Impact of Technology on Internal Controls Includes