Accountıng I Deneme Sınavı Sorusu #1216320
Monitoring is an important component of internal control. Which of the following items would not be an example of monitoring?
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Management regularly compares divisional performance with budgets for the division. |
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Hiring competent, reliable, and ethical personnel. |
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Data processing management regularly generates exception reports for unusual transactions or volumes of transactions and follows up with investigation as to causes. |
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Management has asked internal auditing to perform regular audits of the controls over cash processing. |
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Data processing management regularly reconciles batch control totals for items processed with batch controls for items submitted. |
The correct answer is question E. A, B and D are a control activities. Option C can be considered as the identification of risks from the internal control components.
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