88 describe the differences between general and specific authorization 89 explain ho 4312319

88 describe the differences between general and specific authorization 89 explain ho 4312319

88) Describe the differences between general and specific authorization.

89) Explain how a company could be the victim of fraud, even if ideal segregation of duties is enforced.

90) Classify each of the following controls as preventive, detective, or corrective.

Periodic bank reconciliation

Separation of cash and accounting records

Maintaining backup copies of master and transaction files

Pre-numbering of sales invoices

Chart of accounts

Retina scan before entering a sensitive R & D facility

Resubmission of error transactions for subsequent processing

Internal auditor rechecking the debits and credits on the payment voucher

Depositing all cash receipts intact

Hiring qualified accounting personnel

91) Discuss four reasons why AIS threats are increasing.

1

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