Why does a manual control require more tests of operating effectiveness than an automated control?
Answer to relevant QuestionsWhat happens when the auditor becomes aware of possible illegal acts that have an indirect effect on the financial statements?Why do audit work papers need to be indexed and cross referenced? Why do auditors need to use tick marks?What types of processing controls might an auditor test using test data? Explain what processing controls do.How does the auditor form a conclusion about the fair presentation of an entire account balance based on the results of tests of details of balances performed on a sample?For each of the following situations decide whether proper controls relating to the segregation of duties have been implemented. If not, recommend any improvements that could be made.a. A catering company prices each job ...
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