IIA
IIA-CIA-PART1 · Question #25
IIA-CIA-PART1 Question #25: Real Exam Question with Answer & Explanation
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Question
During an audit engagement of a large retail store, internal auditors noted significant discrepancies between available inventory and sales and suspect an abuse of cash register refunds and voids. Which of the following would be the most effective preventative control to reduce these losses?
Options
- AEnsure that returned merchandise is restocked to shelves or sent to the manufacturer by an
- BCall a sample of customers who returned merchandise to test the legitimacy of the returns and
- CRequire that a manager use a reserved register code to approve voids or refunds.
- DAnalyze voids and refunds by employee, credit card number, and amount for unusual numbers,
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