Question

In: Accounting

Which of the following hiring procedures would provide the most control over the accuracy of information...

Which of the following hiring procedures would provide the most control over the accuracy of information submitted on an employment application?

Select one:

a. Applicants are required to submit copies of their transcripts as verification of their educational credentials.

b. Letters of recommendation that attest to the applicant's character submitted by the applicant.

c. Applicants are required to sign a statement indicating that the information on the application is true and correct, as a confirmation of the truth of the information in the application.

d. The hiring organization calls the last place of employment for each finalist to verify the employment.

Solutions

Expert Solution

Based on the information and options available in the question, the correct answer is Option D - The hiring organization calls the last place of employment for each finalist to verify the employment. Among all the options available , this process is the best method for verification that provides the highest level of comfort to the hiring company and would provide higher control over the accuracy of information submitted by the prospective employee. The process of verification is undertaken by the hiring organization without solely depending on the information provided by the employee. When a hiring organization directly calls the last place of employment, the reliance and comfort on the procedure would be higher as compared to the other procedures. The hiring organization, would thus be able to verify the facts regarding the employee with increased accuracy.

Option A is incorrect. Even though transcripts provide a fair level of confidence, since the transcripts are received directly from the employees itself, there is scope for misappropriation and tampering.

Option B is incorrect. The letters of recommendation submitted directly by the applicant who is directly benefitted from the job would not provide a higher level of accuracy than the one which the employer directly verifies. There are chances that the letters of recommendation are fake and created by the employee himself/herself.

Option C is incorrect. This procedures provides the least level of comfort and assurance over the authenticity of the new employee. A mere signature about the authenticity of the data of the employee would not be effective in verifying the accuracy and genuineness of the employee and employee records.  


Related Solutions

1) Which of the following analytical procedures would not provide information on a potential misstatement( either...
1) Which of the following analytical procedures would not provide information on a potential misstatement( either understatement or overstatement) of the allowance for uncollectible accounts? a- compare allowance for uncollectible accounts as a percentage of accounts receivable with previous years b- compare aging categories as a percentage of accounts receivable with previous years c- compare current year gross margin percentage with previous year gross margin d- compare number of days accounts receivable are outstanding with previous years 2) An appropriate...
What are the seven Internal Control Procedures and which one is the most important to you?
What are the seven Internal Control Procedures and which one is the most important to you?
The following control procedures are used in Keaton Company for over-the-counter cash receipts. (a) For each...
The following control procedures are used in Keaton Company for over-the-counter cash receipts. (a) For each procedure, explain the weakness in internal control and identify the control principle that is violated. Procedure Weakness Principle Violated 1. Each store manager is responsible for interviewing applicants for cashier jobs. They are hired if they seem honest and trustworthy. Select a weakness in internal control Cash is not adequately protected from theftInability to establish responsibility for cash on a specific clerkThe accountant should...
The following control procedures are used at Melora Company for over-the-counter cash receipts. To minimize the...
The following control procedures are used at Melora Company for over-the-counter cash receipts. To minimize the risk of robbery, cash in excess of $100 is stored in an unlocked briefcase in the stock room until it is deposited in the bank. All over-the-counter receipts are registered by three clerks who use a cash register with a single cash drawer. The company accountant makes the bank deposit and records the day’s receipts. At the end of each day, the total receipts...
51   Which of the following auditing procedures most likely would assist an auditor in identifying related-party...
51   Which of the following auditing procedures most likely would assist an auditor in identifying related-party transactions?    A)   Inspecting correspondence with lawyers for evidence of unreported contingent liabilities      B)   Vouching accounting records for recurring transactions recorded just after the balance sheet date      C)   Reviewing confirmations of loans receivable and payable for indications of guarantees      D)   Performing analytical procedures for indications of possible financial difficulties.       52   Which of the following conditions or events most likely would...
Which of the following audit procedures most likely will involve sampling? A. Risk assessment procedures performed...
Which of the following audit procedures most likely will involve sampling? A. Risk assessment procedures performed to obtain an understanding of internal control. B. Tests of automated application controls when effective information technology general controls are present. C. Analyses of controls to determine the appropriate segregation of duties. D. Testing of process for approval of credit to customers for sales on account.
Which internal control procedure would be most effective in dealing with the following threats? (a) Receiving-dock...
Which internal control procedure would be most effective in dealing with the following threats? (a) Receiving-dock personnel steal inventory and then claim the inventory was sent to the warehouse. (b) A company is late in paying a particular invoice. Consequently, a second invoice is sent, which crosses the first invoice’s payment in the mail. The second invoice is submitted for processing and also paid.   (c) The petty cash custodian confesses to having “borrowed” $12,000 over the last five years.    (d)...
Which of the following financial ratios would be most useful to an auditor seeking information on...
Which of the following financial ratios would be most useful to an auditor seeking information on a company’s ability to cover current obligations? a. Earnings per share b. Quick ratio c. Gross profit margin d. Sales to assets
What are aging reports and how do they provide information pertaining to accuracy and information for...
What are aging reports and how do they provide information pertaining to accuracy and information for that of sales? What other type of reporting helps a company keep up with their accounts and processes? When looking at the accounting system is it the ability of the system to track the changes and invoices or the person who is managing the system?
In which of the following cases would it not be appropriate to use ?t procedures to...
In which of the following cases would it not be appropriate to use ?t procedures to make inferences about ?μ using ?¯x¯ ? We have a sample of size ?=20 and x has a right‑skewed distribution with an outlier. We have a sample of size ?=8 and x has a Normal distribution. We have a sample of size ?=60 and x has a right‑skewed distribution with no outliers. We have a sample of size ?=20 and x has a Normal...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT