What activities fall into the category of physical controls?
Answer to relevant QuestionsWhat are the five questions COSO IC proposes as indicators of the quality of information?Would the auditor be likely to test and attempt to rely on ICFR for the financial statement audit if ICFR changed during the year? Why?Describe how extensive audit documentation must be. What purposes must it be able to serve?When are period-end reporting processes conducted? How does this relate to the date of management’s report?What duties of the IT function should be performed by different people, or located in separate departments? Why?
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