Question: 27 Indicate which statements are true and which are false. 1. Hiring auditors to review internal controls increases risk of theft. 2. Separation of recordkeeping

27 Indicate which statements are true and which are false. 1. Hiring auditors to review internal controls increases risk of theft. 2. Separation of recordkeeping for assets from the custody over assets helps reduce fraud. 3. The primary objective of internal control procedures is to safeguard the business against theft from government agencies. 4. Internal control procedures should be designed to protect assets from waste and theft

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5. Are there values in conflict now that you have a better understanding of the problem?

4. What are the facts that need to be considered? What assumptions are you making?

2. Who are the stakeholders, and how would they define the problem? What are the values of greatest importance to these stakeholders?