Question

A bookkeeper has been assigned the duty of processing and controlling EFTs explain two reasons why the internal auditor is conserened about this

Answer 1

Answer:

Because shopkeeper has done Eft

Explanation:

Answer 2

Reason why EFT's are important for internal auditor's

Explanation:

EFT stands for electronic fund transfer. EFT is a modern system of transferring money from one bank account to another, with the use of computers and mobiles. internal auditor is concerned about it because of the following reasons:

• Since this method allows transfer of fund from across the world, the volume of transaction has increased which leads to timely processing and control of the transaction.
• the chances of cyber crime is also high in case of EFT's so the internal auditor must keep regular check on the movement of the funds.

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Rights of company's auditor

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