Banking · Internal Control and Voucher Processing
Consider the following statements regarding internal controls and manual voucher entries in bank operations: Statement I: High-value manual vouchers must be subjected to pre-audit or specific authorization as per board-approved policy. Statement II: System access rights for passing manual entries must be strictly restricted to authorized officials. Statement III: A Journal Voucher (JV) used for non-cash transactions must always have total debits equal to total credits. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III✓
- 2Only II and III
- 3Only I and II
- 4Only I
Correct answer
I, II and III
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