Why are application controls not likely to be effective if general controls are not?
Answer to relevant QuestionsHow can social engineering cause the breakdown of good ITGC?What different types of backup procedures can be performed, and when are the various procedures appropriate?AS 2, paragraph 11 defines preventive controls as having, “.the objective of preventing errors or fraud from occurring in the first place that could result in a misstatement of the financial statements.” Detective ...Assume that management of a company with a December 31 fiscal year end began its assessment of ICFR early in the fiscal year. Based on its procedures, management concluded deficiencies existed in ICFR and made major changes ...At Genuine Products, Inc., time cards of 550 employees are collected weekly by the plant foreman and delivered to the IS department. There, the cards are sorted and the hours worked are entered into the computer. These ...
Post your question