- Lack of segregation of duties
- Too much trust
- Approval of documents without review
- Lack of verification of transactions after they have been entered in the system
- Lack of reconciliations
- No follow-up when things appear “questionable” or “not reasonable”
- Lack of control over cash/petty cash
- Lack of control over purchasing of materials/supplies
- Lack of knowledge of policies and procedures
Showing posts with label what should check for internal control during audit. Show all posts
Showing posts with label what should check for internal control during audit. Show all posts
Monday, 13 February 2017
Conditions that increase risk of material misstatements/ fraud in internal control
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