You are performing an audit of Systex Corporation and evaluating various controls. Classify the following controls as

Question:

You are performing an audit of Systex Corporation and evaluating various controls. Classify the following controls as being primarily preventive (P), detective (D), or corrective (C). Explain your answers.
a. Annual physical inventory.
b. Monthly reconciliation of bank accounts.
c. Segregation of duties over purchasing.
d. Supervisory approval of time cards.
e. Dual signatures for checks.
f. Adjustment of perpetual inventory records to physical counts.
g. Management review of budget/actual information.
h. Internal audits of payroll.


Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: