What are the three major phases in the audit team’s evaluation of internal control? How does the use of information technology affect the procedures performed in those phases?
Answer to relevant QuestionsIdentify and define the two major types of controls in an accounting information system.Briefly describe record counts, batch totals, and hash totals. What types of errors in input would each of these controls likely identify?Identify physical controls, technical controls, and administrative controls that protect computerized processing systems from fraud.Audit teams use the test data method to gain certain assurances with respect to a. Input data. b. Machine capacity. c. Control procedures contained within the program. d. General controls.Tests of Controls: General Controls. The audit team of Packer Company identified the following general controls in obtaining its overall understanding of Packer’s internal control over the automated processing of ...
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