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Unformatted text preview: Yes, the company does have a monthly budget, which are closely scrutinized, exceptions investigated, and explanations obtained for significant variances. 4. Are accounting procedures set out in writing? No, Apple Blossom relies on our external audit to assure that accounting policies and procedures are accurate. 5. Is there an internal audit function? No, Apple Blossom does not have an internal audit department. The controller, treasurer, and production supervisor closely scrutinize all financial and nonfinancial operations. 6. Are all personnel who have accounting responsibilities required to take annual vacation? No, 7. Are output devices in a secure area that limits access only to those authorized? No, the printers are available to anyone, but there are restrictions for employees to see information which is not needed for them to complete their daily tasks....
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This note was uploaded on 04/26/2010 for the course ACC 639 taught by Professor Mccarthy during the Spring '10 term at St. Johns Duplicate.
- Spring '10