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COBGOVE > PREVENTIVE, CORRECTIVE, DETECTIVE? > Flashcards

PREVENTIVE, CORRECTIVE, DETECTIVE? Flashcards

1
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Segregation of Duties

A

Preventive

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2
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Authorization Controls

A

Preventive

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3
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Access Controls

A

Preventive

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4
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Employee Training

A

Preventive

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4
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Physical Controls: Securing physical assets and sensitive documents to prevent unauthorized access

A

Preventive

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4
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Policy and Procedure Manuals

A

Preventive

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4
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Pre-numbered Documents

A

Preventive

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5
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Implementing budgetary controls to ensure expenditures are within approved limits

A

Preventive

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5
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Implementing IT controls to restrict access to accounting software.

A

Preventive

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6
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Regularly maintaining and updating accounting software and systems to prevent technical issues

A

Preventive

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7
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Bank Reconciliation

A

Detective

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8
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Audits

A

Detective

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9
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Variance Analysis

A

Detective

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10
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Review of financial statements

A

Detective

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11
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Exception Reports

A

Detective

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12
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Physical inventory counts

A

Detective

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13
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Analytical Reviews

A

Detective

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14
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Monitoring of Access Logs

A

Detective

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15
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Surprise Audits

A

Detective

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16
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Continuous monitoring systems

A

Detective

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17
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Error Corrections

A

Corrective

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18
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Restitution of Assets

A

Corrective

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19
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Policy Updates

A

Corrective

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20
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Employee Retraining

A

Corrective

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21
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Disciplinary Actions

A

Corrective

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22
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

System Modifications

A

Corrective

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23
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Control Enhancements

A

Corrective

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24
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Fraud Investigations

A

Corrective

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24
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Restatement of Financials

A

Corrective

25
Q

PREVENTIVE, CORRECTIVE, DETECTIVE?

Customer Refunds

A

Corrective

26
Q

Prenumbered use of official receipts

A

Preventive

27
Q

Daily deposit of collections

A

Preventive

28
Q

Bonding of cash custodians

A

Preventive

29
Q

Authorization for opening of bank account

A

Preventive

30
Q

Separation of duties between cashier and bookkeeper

A

Preventive

31
Q

Use of cash vaults and locks

A

Preventive

32
Q

Access to cash vaults limited

A

Preventive

33
Q

Prenumbered use of vouchers/checks

A

Preventive

34
Q

Approval of cash disbursements

A

Preventive

35
Q

Limited authorization to sign checks

A

Preventive

36
Q

No signing of blank checks

A

Preventive

37
Q

Mutilation of voided checks

A

Preventive

38
Q

Control over interbank transfers

A

Preventive

39
Q

Surprise cash count

A

Detective

40
Q

Physical control of unused checks, etc.

A

Preventive

41
Q

Proper authorization of purchase

A

Preventive

42
Q

Use of safety deposit box/vault for the safekeeping of investment documents

A

Preventive

43
Q

Bonding of investment custodian

A

Preventive

44
Q

Limited access to safety deposit box/vault

A

Preventive

45
Q

Investment securities in the name of the company

A

Preventive

46
Q

Credit approval before making deliveries to customers

A

Preventive

47
Q

Use of credit limits for customers

A

Preventive

48
Q

Use of prenumbered sales orders

A

Preventive

49
Q

Independence or separation between credit and sales departments

A

Preventive

50
Q

Use of detailed property records

A

Preventive

51
Q

Use of property identification/tag

A

Preventive

52
Q

Fixing of accountability of fixed assets

A

Preventive

53
Q

Control over fully depreciated fixed assets

A

Preventive

54
Q

Segregation of purchasing and A/P functions

A

Preventive

55
Q

Bidding procedures for significant purchases

A

Preventive

56
Q

Vendor accreditation procedure

A

Preventive

57
Q

Comparison of purchase amounts to budget

A

Detective

58
Q

Comparison of deposit slips with books

A

Detective

59
Q

Periodic confirmation of customers’ A/R balances

A

Detective

59
Q

Prep of monthly bank reconciliation

A

Detective

60
Q

Segregation of collection function from A/R bookkeeping

A

Preventive

60
Q

Control over write-off of bad accounts

A

Preventive

61
Q

Periodic inventory counts

A

Detective

62
Q

Investigation of discrepancies in case of inventory shortage or overage

A

Detective

63
Q

Segregation of inventory custodian from inventory bookkeeping

A

Preventive

COBGOVE (10 decks)

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