question archive Internal control policies and procedures have limitations not including: a
Internal control policies and procedures have limitations not including: a
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Internal control policies and procedures have limitations not including:
a. Human error.
b. Human fraud.
c. Cost-benefit principle.
d. Collusion.
e. Establishing responsibilities.
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The answer is e. Establishing responsibilities.
Internal control would assign specific tasks to individuals, which will raise their responsibility for their assignments. Internal control would be more effective when a person is authorized to process their decisions. Since all information will be processed by one person, it is easy to identify the error and solution to fix it.
