A. Since the operations of the treasury function as documented during the last engagement may not have been in compliance with organizational policies and procedures, these operations are not a desirable criterion against which to judge current operations.

B. Textbook illustrations of generally accepted good treasury function practices are good criteria against which to judge current operations.

C. Codification of best practices of the treasury function in relevant industries is a good criterion against which to judge current operations.

D. Organizational policies and procedures delegating authority and assigning responsibilities are a good criterion against which to judge current operations.