Which internal control procedure is followed when the work of one department acts as a check on the work of another?
A)Segregation of duties
B)Safeguarding assets and records
C)Independent verification
D)Proper authorizations

Question

Quizplus · Accepted Answer

Independent verification is the internal control procedure followed when the work of a department is checked by the work of another. This ensures accuracy and completeness of transactions, records, and reports. Segregation of duties ensures that responsibility for related activities is divided among different personnel to prevent error or fraud, safeguarding assets and records ensure protection of valuable resources, and proper authorizations ensure that only authorized personnel are able to conduct transactions or access resources. However, these internal control procedures do not directly address the issue of one department checking the work of another.

Which Internal Control Procedure Is Followed When the Work of One