Payroll Expenses: Overpayment of overtime. Account Payable: Payments made twice to the same supplier. Fixed Assets: wrong
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Question:
- Payroll Expenses: Overpayment of overtime.
- Account Payable: Payments made twice to the same supplier.
- Fixed Assets: wrong calculation to the depreciation.
Required:
- Determine the key assertion at risk
- Describe a practical preventive internal control that would directly address the risk
- Describe a practical detective internal control that could implement in relation to the risk
- Describe a practical test that could use to have evidence support the assertion
Related Book For
Essentials of Corporate Finance
ISBN: 978-1118868416
1st edition
Authors: Robert Parrino, David S. Kidwell, Thomas Bates
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