The internal control procedures in Weiser Company are provided below. Identify t

Question

The internal control procedures in Weiser Company are provided below.
Identify the principles of internal control that are being followed.

Employees who have physical custody of assets do not have access to the accounting records.


Each month the assets on hand are compared to the accounting records by an internal auditor.


A prenumbered shipping document is prepared for each shipment of goods to customers.


Options are:
Independent Internal Verification
Segregation of duties
Documentation of procedures
Establishments of responsibility
Physical, mechanical, and electronic controls

Explanation / Answer

Physical, mechanical, and electronic controls

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