Describe a process by which you would develop modifications to procedures to facilitate internal controls.
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Expert's answer
2017-09-06T10:45:07-0400
Improving control can be provide by the next steps: Segregate Accounting Duties Restrict Access to Financial Systems Increase Oversight Have Financial Statements Reviewed by a Third Party Require Employees to Take Vacation Facilities of more effective internal control: Automated and simple control; Control is performed by an experienced person in a position of responsibility; Preventive control; One in a group of overlapping controls; Detailed, transaction-level control; Control providing in every case; Control occurs as the transaction takes place or is processed. Sources: https://www.investopedia.com https://prebenormen.com/ https://signatureanalytics.com
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