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8 Cards in this Set
- Front
- Back
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Two most common sources of fraud |
Misuse of company resources Financial statement manipulation |
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Framework for internal controls is provided by |
Committee of sponsoring organizations (COSO) |
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Two types of control procedures are preventative and |
Detective |
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Preventative controls |
Separation of duties Physical controls |
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A company’s plan to safeguard company assets and enhance reliability of accounting information |
Internal controls |
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Who provides an opinion on managements assessment |
The company’s auditors |
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Types of detective controls |
Audits Performance reviews Reconciliations
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Reconciliation |
Comparing two sets of records to make sure they match |
