Which among the following is not representing an inherent limitation of the Internal control system a. Misunderstanding of instructions by employees b. None of these Options c. Employee conspiracy / collusion d. Limitations due to human decisions/ judgements Show  Students who’ve seen this question also like: Related Accounting Q&AFind answers to questions asked by students like you. Q: Why is a system of internal control not able to overcome collusion by employees? b. 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Which of the following is inherent limitation of internal controls?Answer and Explanation: The correct answer is d. A strong internal audit department.
What are the 4 internal controls?Preventive Controls
Separation of duties. Pre-approval of actions and transactions (such as a Travel Authorization) Access controls (such as passwords and Gatorlink authentication) Physical control over assets (i.e. locks on doors or a safe for cash/checks)
Which of the following is an inherent limitation?Answer: Explanation: INHERENT LIMITATION is whether the potential effectiveness of an entity's internal control is subject to inherent limitations, e.g., human fallibility, collusion, and management override.
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Which of the following is not one of the inherent limitations of internal control
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