“All experienced auditors would design exactly the same audit program for a particular audit engagement.” Do you agree? Explain.
Answer to relevant QuestionsYou have discussed with the president of Vista Corporation several material weaknesses in internal control that have come to your attention during your audit. At the conclusion of this discussion, the president states that ...The number of personnel in an information systems department may limit the extent to which segregation of duties is feasible. What is the minimum amount of segregation of duties that will permit satisfactory internal control?Distinguish between batch processing and online real-time (OLRT) processing. In which of these systems is strong internal control over input most easily attained? Explain.CPAs may audit around or through computers in the audit of the financial statements of clients who use IT to process accounting data.a. Describe the auditing approach referred to as “auditing around the computer.”b. ...Do auditors usually begin their consideration of internal control over IT activities with a review of general or application control activities? Explain.
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