Final answer:
The principles of internal control potentially violated in each case are: a) segregation of duties, b) physical control, c) independent internal verification, and d) all of the above. Each violation can have serious implications for the integrity of an organization's internal control system.
Step-by-step explanation:
When discussing the violations of internal control principles, each scenario describes potential weaknesses:
- a) Segregation of duties - This principle is violated if a single individual has control over all aspects of a transaction, increasing the risk of errors or fraud.
- b) Physical control - Is compromised when access to assets and records is not secured, leading to potential loss or damage.
- c) Independent internal verification - Violated if there is no periodic checking of data by an independent employee, thus failing to detect discrepancies.
- d) All of the above - Indicates a situation where multiple principles are violated simultaneously, creating significant risks to the integrity of the internal control system.
Each principle is crucial in maintaining a robust internal control environment and preventing fraud or mistakes within an organization.