Match the following terms with their definitions
Internal control a.two or more people working together to overcome internalcontrol
Control procedures b. part of internal controlthat ensures resources are not wasted.
Firewalls c. requires companies to review internal control and takeresponsibility for the accuracy and completeness of their financialsupport
Encryption d. should be pre-numbered to prevent theft andinefficiency.
Environment e. limits access to a local network.
Information system f. example: theperson who opens the bank statement should not also be the personwho is reconciling cash.
Separation of duties g. identificationof uncertainties that may arise due to a companyâs products,services, or operations.
Collusion h. examination of a companyâs financialstatements and accounting system by a trained accountingprofessional
Documents i. without a sufficient one ofthese, information cannot properly be gathered and summarized.
Audits
j. the organizational plan and all the related measures thatsafeguard assets, encourage employees to follow company policies,promote operational efficiency, and ensure accurate and reliableaccounting data.
Operational efficiency k. component of internal control that helps ensure business goalsare achieved.
Risk assessment l. rearrange data by a mathematical process.
Sarbanes-Oxley Act m. to establish one, a companyâs CEO and top managers must behavehonorably to set a good example foremployees.
Match the following terms with their definitions
Internal control a.two or more people working together to overcome internalcontrol
Control procedures b. part of internal controlthat ensures resources are not wasted.
Firewalls c. requires companies to review internal control and takeresponsibility for the accuracy and completeness of their financialsupport
Encryption d. should be pre-numbered to prevent theft andinefficiency.
Environment e. limits access to a local network.
Information system f. example: theperson who opens the bank statement should not also be the personwho is reconciling cash.
Separation of duties g. identificationof uncertainties that may arise due to a companyâs products,services, or operations.
Collusion h. examination of a companyâs financialstatements and accounting system by a trained accountingprofessional
Documents i. without a sufficient one ofthese, information cannot properly be gathered and summarized.
Audits
j. the organizational plan and all the related measures thatsafeguard assets, encourage employees to follow company policies,promote operational efficiency, and ensure accurate and reliableaccounting data.
Operational efficiency k. component of internal control that helps ensure business goalsare achieved.
Risk assessment l. rearrange data by a mathematical process.
Sarbanes-Oxley Act m. to establish one, a companyâs CEO and top managers must behavehonorably to set a good example foremployees.
