In small companies with few employees, it is virtually impossible to implement the segregation of duties control
Question:
“In small companies with few employees, it is virtually impossible to implement the segregation of duties control plan.” Do you agree? Discuss fully.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Obviously whether one agrees or disagrees with the statement depends on how few few employees actual...View the full answer
Answered By
Jinah Patricia Padilla
Had an experience as an external auditor in Ernst & Young Philippines and currently a Corporate Accountant in a consultancy company providing manpower to a 5-star hotel in Makati, Philippines, Makati Diamond Residences
5.00+
120+ Reviews
150+ Question Solved
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
Question Posted:
Students also viewed these Accounting questions
-
It is virtually impossible to generalize why organizations outsource various business processes. Who in the organization makes the final outsourcing decision? Explain the outsourcing decision-making...
-
Segregation of duties is an important concept in internal control. However, segregation of duties is often a challenge for smaller businesses because they do not have sufficient staff to always...
-
Do you agree that it is impossible for a firm to avoid mistakes? Why or why not?
-
Suppose a city finds that its express highways into the city are congested and it is considering two remedies: (1) imposing a congestion charge on all users of its expressways during the peak periods...
-
You are babysitting for two children, Abby and Bill. They have a bucket of 30 crayons, 20 of which are unbroken, and the other 10 are broken. They each choose a crayon, without replacement. Let X = 1...
-
The unadjusted trial balance of Launderland at November 30, 2012, the end of the current fiscal year, is shown below. The data needed to determine year-end adjustments are as follows: a. Laundry...
-
Two protons are fired toward each other on closely spaced paths, one moving in the \(+z\) direction and one in the \(-z\) direction. As they pass close to each other, is the magnetic force between...
-
Jason Lasseigne, a Little League baseball player, was seriously injured at a practice session when he was struck on the head by a poorly thrown baseball from a team member, Todd Landry. The league...
-
Duncan's Diamond Bit Drilling Corporation (Duncan) purchased the following assets in 2023. Assume its taxable income was $60,000 for purposes of computing the 179 expense deduction. Asset Purchase...
-
Use Theorem 5.2.1 to determine which of the following are subspaces of Mnn. (a) All n x n matrices A such that AT = -A (b) All n x n matrices A such that the linear system Ax = 0 has only the trivial...
-
The Enterprise Risk Management (ERM) framework introduced in Chapter 7 can be used by management to make decisions on which controls in this chapter should be implemented. Do you agree? Discuss fully.
-
No matter how sophisticated a system of internal control is, its success ultimately requires that you place your trust in certain key personnel. Do you agree? Discuss fully.
-
Explain the major differences between a distribution channel for a manufacturing company and a distribution channel for a tourism organisation.
-
What are the steps involved in formulating an overall regression model building?
-
Which of the following is not a method by which documents may be altered? 1. Erasure 2. Shredding 3. Chemical washing 4. Eradication
-
Which of the following is most accurate with regard to interviewing and interrogation? 1. Interviewing and interrogation are synonymous and are used interchangeably by investigators. 2. Interviewing...
-
Sales of Riding Mowers. A company that manufactures riding mowers wants to identify the best sales prospects foran intensive sales campaign. In particular, the manufacturer is interested in...
-
How can you decide on the number of independent variables and that adding one more would improve the predictability of the dependent variable?
-
What are the two principal types of REITs?
-
Data on weekday exercise time for 20 females, consistent with summary quantities given in the paper An Ecological Momentary Assessment of the Physical Activity and Sedentary Behaviour Patterns of...
-
Three of the accounts in the ledger of Charlotte Williams indicated the following balances at 1 January 2017: Insurance paid in advance 562; Wages outstanding 306; Rent receivable, received in...
-
Describe the role of the journal voucher in both batch and real-time GL systems.
-
Prepare an ER diagram that illustrates a normalized data model for a general ledger update process. Base the model on a sales order system that updates sales transactions to the GL in real time from...
-
What is virtualization?
-
Write the Decomposition for this problem. Also include a listing of inputs and outputs. Finally, list the condition of when the loop will end and how you will determine what prints out to the user....
-
Insurance business operations are in two components, i.e. technical business and non-technical business. Briefly explain these two components and define the technical risk to which the insurance...
-
1 3 If f(x) = - 4x + 12x - 5 and the domain is the set of all x such that 0 x 9, then the absolute maximum value of the function f occurs when x is
Study smarter with the SolutionInn App