Question: Identify the internal control principle that was - violated in each of the following separate situations. Situations a . As a result of significant internal
Identify the internal control principle that wasviolated in each of the following separate situations.
Situations
a As a result of significant internal control weaknesses, the company lost millions and was forced to close. Two years prior, the company stopped paying for regular audits of internal control to save for renovations of executive offices.
b The recordkeeper lefttown after the owner discovered a large sum of money had disappeared. An audit found that the recordkeeper had written and signed several checks made payable to his fiancee and recorded the checks as salaries expense.
c There is $ in cash missing from a cash register drawer. Three salesclerks shared the cash register drawer, so the owner cannot determine who is at fault.
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