controls in an on-line real-time system

Project Description:

unit 4 controls in an on-line real-time system
you have been engaged by central savings and loan association to audit its financial statements for the year ended december 31, 20x1. the cpa
who audited the financial statements at december 31, 20x0, rendered an unqualified opinion.
in january 20x1, the association installed an on-line real-time computer system. each teller in the association's main office and seven branch offices
has an on-line input-output terminal. the customer's mortgage payments and savings acount deposits and withdrawals are recorded in the accounts
by the computer from data input by the teller at the time of the transaction. the teller keys the proper account by account number and enters
the information in the terminal keyboard to record the transaction. the accounting department at the main office also has direct access to the computer
via on-line terminals. the computer is housed at the main office.
in addition to servicing its own mortgage loans, the association acts as a mortgage servicing agency for three life insurance companies. in this latter
activity, the association maintains mortgage records and serves as the collection and escrow agent for the mortgagees (the insurance companies),
who pay a fee to the association for these services.

you will expect the association to have certain internal controls in effect because an on-line real-time computer system is employed. list the
internal controls that should be in effect solely because this edp system is employed, classifying them as
a. those controls pertaining to input of information
b. all other types of computer controls
Skills Required:
Project Stats:

Price Type: Negotiable

Total Proposals: 1
1 Current viewersl
14 Total views
Project posted by:


Proposals Reputation Price offered