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Question 15 Not yet answered Marked out of 4.00 P Flag question Bader, the cashier of a ABC Trading, has controls of all the financial books of the company. Al-Fayha does not segregate the related duties of its staff. Bader also opens all letters and other documents he received by all means. He is handling all the receipts and payments. Receipts comprise of cash and cheques and moreover he handles all the bank transactions. Upon receipt of collections in the form of cash and cheques from the customer, he would deposit part of these funds to his personal account and to the accounts of third parties who had no relationship with company. It is also observed that he postponed the entries in the books of accounts purposefully for taking the cash. This was possible due to lack of internal control and little or no review by the internal auditor. The receipt of collections in the form of cash by cashier and depositing the same in his personal account represents: V Who among the following is primary responsible for fraud and error? Who among the following will discuss the above material weakness due to fraud with management? Postponing the entries in the book of accounts purposely represents; The receipt of collections in the form of cash by cashier and depositing the same in his personal account represents: Intentional practice Error of commission Unintentional Mistake of Cashier Who among the following is primary responsible for fraud and error? Who among the following will discuss the above material weakness due to fraud with management? Postponing the entries in the book of accounts purposely represents; Question 15 Not yet answered Marked out of 4.00 p Flag question Bader, the cashier of a ABC Trading, has controls of all the financial books of the company. Al-Fayha does not segregate the related duties of its staff. Bader also opens all letters and other documents he received by all means. He is handling all the receipts and payments. Receipts comprise of cash and cheques and moreover he handles all the bank transactions. Upon receipt of collections in the form of cash and cheques from the customer, he would deposit part of these funds to his personal account and to the accounts of third parties who had no relationship with company. It is also observed that he postponed the entries in the books of accounts purposefully for taking the cash. This was possible due to lack of internal control and little or no review by the internal auditor. The receipt of collections in the form of cash by cashier and depositing the same in his personal account represents: Who among the following is primary responsible for fraud and error? Who among the following will discuss the above material weakness due to fraud with Management External auditor Employee Internal auditor management? Postponing the entries in the book of accounts purposely represents; Bader, the cashier of a ABC Trading, has controls of all the financial books of the company. Al-Fayha does not segregate the related duties of its staff. Bader also opens all letters and other documents he received by all means. He is handling all the receipts and payments. Receipts comprise of cash and cheques and moreover he handles all the bank transactions. Upon receipt of collections in the form of cash and cheques from the customer, he would deposit part of these funds to his personal account and to the accounts of third parties who had no relationship with company. It is also observed that he postponed the entries in the books of accounts purposefully for taking the cash. This was possible due to lack of internal control and little or no review by the internal auditor. The receipt of collections in the form of cash by cashier and depositing the same in his personal account represents: Who among the following is primary responsible for fraud and error? Who among the following will discuss the above material weakness due to fraud with management? Independent auditor Internal auditor Employee Cashier Postponing the entries in the book of accounts purposely represents; Bader, the cashier of a ABC Trading, has controls of all the financial books of the company. Al-Fayha does not segregate the related duties of its staff. Bader also opens all letters and other documents he received by all means. He is handling all the receipts and payments. Receipts comprise of cash and cheques and moreover he handles all the bank transactions. Upon receipt of collections in the form of cash and cheques from the customer, he would deposit part of these funds to his personal account and to the accounts of third parties who had no relationship with company. It is also observed that he postponed the entries in the books of accounts purposefully for taking the cash. This was possible due to lack of internal control and little or no review by the internal auditor. The receipt of collections in the form of cash by cashier and depositing the same in his personal account represents: Who among the following is primary responsible for fraud and error? Who among the following will discuss the above material weakness due to fraud with management? Postponing the entries in the book of accounts purposely represents; Dishonest Professional behaviour Integrity Objectivity CE