Which of the following principle of internal control requires application of need basis?
A)Establish responsibility.
B)Segregate duties.
C)Restrict access.
D)Document procedures.

Question

Quizplus · Accepted Answer

The principle of internal control that requires application of need basis is to restrict access. Access to resources or sensitive information should only be granted to individuals who have a legitimate business need for such access. This helps to prevent misuse, theft, or unauthorized disclosure of information. Establishing responsibility, segregating duties, and documenting procedures are other internal control principles that help to enhance the effectiveness and efficiency of an organization's operations.

Which of the Following Principle of Internal Control Requires Application