Home / Expert Answers / Accounting / controls-over-financial-reporting-are-often-classified-as-preventative-detective-or-corrective-wh-pa472

(Solved): Controls over financial reporting are often classified as preventative, detective, or corrective. Wh ...



Controls over financial reporting are often classified as preventative, detective, or corrective. Which of the following is an example of a detective control?(1)Segregation of duties over cash disbursements.

(2)Requiring approval of purchase transactions.

(3)Preparing bank reconciliations.

(4)Maintaining backup copies of key transactions.



We have an Answer from Expert

View Expert Answer

Expert Answer


Answer is option 3, Preparing bank reconciliations. Detective internal controls are those controls, that saw the problems, after its occurrence. It is mainly associated with prev
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe