Question: Identify the internal control principle that was violated in each of the following separate situations. Situations a. As a result of significant internal control

Identify the internal control principle that was violated in each of the

Identify the internal control principle that was violated 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 left town 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 fiance and recorded the checks as salaries expense. c. There is $500 in cash missing from a cash register drawer. Three salesclerks shared the cash register drawer, so the owner cannot determine who is at fault. Principle Violated

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