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Which of the following is an inherent limitation of any clients internal control? ...

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Accounting

Which of the following is an inherent limitation of any clients internal control?

Multiple Choice

  • Procedures designed to assure the execution and recording of transactions in accordance with proper authorizations are effective against frauds perpetrated by management.

  • Procedures whose effectiveness depends on separation of duties can be circumvented by collusion.

  • The competence and integrity of client personnel provide an environment conducive to control and provides assurance that effective control will be achieved.

  • The benefits expected to be derived from effective internal controls usually do not exceed the costs of effective internal controls.

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