Question: Why is there a cost benefit trade off involved in evaluating internal
Why is there a cost-benefit trade-off involved in evaluating internal controls for planning the audit?
Answer to relevant QuestionsList some commonly used general controls related to IT. Why do many organizations have documentation of their internal control system?In which situations are manual controls preferable, and in which are IT controls preferable? What do the terms “required degree of control compliance” and “actual degree of control compliance” mean? To test an organization’s internal control procedures, auditors design a test of controls audit program. This audit program is a list of control tests to be performed, and each is directly related to an important auditee ...
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