Economics · Auditing and Accounting
Which of the following is NOT a characteristic of an internal check system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It ensures accounting procedures are laid out so that no single person has independent control over any transaction.
- 2It is closely concerned with the allocation and distribution of duties among the employees.
- 3The work of one employee is automatically checked by another employee in the normal course of work.
- 4Each and every transaction of the company is verified post-facto by an internally appointed independent auditor.✓
Correct answer
Each and every transaction of the company is verified post-facto by an internally appointed independent auditor.
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