Auditing: A Risk Based-Approach to Conducting a Quality Audit, 10th ed.

Companies can improve internal control effectiveness by implementing effective ongoing monitoring of their internal con- trol processes. Identify ongoing monitoring procedures that an organization might use in assessing its controls over revenue rec- ognition in each of the following situations:

a. A convenience store such as 7-Eleven. b. A chain restaurant such as Olive Garden. c. A manufacturing division of a larger company that makes

rubberized containers for the consumer market.