Some internal controls can be tested objectively. Discuss some internal controls that you think are relatively more subjective to assess in terms of adequacy than others.
Answer to relevant QuestionsDistinguish between an edit run, a sort run, and an update run.Distinguish between the sales order, billing, and AR departments. Why can’t the sales order or AR departments prepare the bills?SOX contain many sections. Which sections is the focus of this chapter?Discuss the concept of independence within the context of an audit.What is a reasonableness test?
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