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Principles of internal control include all of the following except: A
Principles of internal control include all of the following except:
A. Apply technological controls.
B. Maintaining security by having one person track and record assets.
C. Perform regular and independent reviews.
D. Separate recordkeeping from custody of assets.
E. Divide responsibilities for related transactions.
Expert Solution
The correct answer is B. Maintaining security by having one person track and record assets.
Maintaining security by having one person track and record assets is not a principle of internal control. It is a violation form segregation of duties since there is one person only that is assigned for tracking and recording assets. These should be assigned into two persons.
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