For each situation noted below, select and identify which type of deficiency or material weakness is...

 

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For each situation noted below, select and identify which type of deficiency or material weakness is present. Situation Answer The client has constantly been late in running their monthly reconciliation reports. The auditor noticed a lack of appropriate approval for a trivial expenditure amount. The auditor noticed a lack of appropriate approval for several material expenditures. in management's attempt to go digital, they have been shredding their physical invoices without properly maintaining an electronic copy. The client has consistently run and evaluated their monthly reports on time. For each situation noted below, select and identify which type of deficiency or material weakness is present. Situation Answer The client has constantly been late in running their monthly reconciliation reports. The auditor noticed a lack of appropriate approval for a trivial expenditure amount. The auditor noticed a lack of appropriate approval for several material expenditures. in management's attempt to go digital, they have been shredding their physical invoices without properly maintaining an electronic copy. The client has consistently run and evaluated their monthly reports on time.

Answer rating: 100% (QA)

a Operational Deficiency The clients constant lateness in running mont... View the full answer