The use of test data is one method of performing tests of processing controls in an IT-based system. Identify and discuss several other methods by which auditors may test internal processing controls over IT activity.
Answer to relevant QuestionsDiscuss how generalized audit software can be used to aid the auditors in examining accounts receivable in a fully IT-based system.The Ultimate Life Insurance Company has a database system that stores policy and payment information. The company is now planning to provide its branch offices with terminals that have online access to the central IT ...Distinguish between end user computing and a distributed data processing network.Describe the difference between sampling risk and nonsampling risk.In performing a test of controls for sales order approvals, the CPAs stipulate a tolerable deviation rate of 8 percent with a risk of assessing control risk too low of 5 percent. They anticipate a deviation rate of 2 ...
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