When are period-end reporting processes conducted? How does this relate to the date of management’s report?
Answer to relevant QuestionsDescribe why a company’s IT processing is important to the design effectiveness of ICFR?How is IT important to likely sources of misstatement?What is a control objective?Why does the period-end reporting process require extensive controls testing?Give examples of accounts and classes of transactions that have greater inherent risk for specific assertions. Why is their inherent risk greater?
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