Companies are facing heightened regulatory expectations. One area of particular interest is information or data produced or manipulated by employees or company systems that is relied on by management to perform key controls or to make significant business decisions. Regulators commonly refer to this information or data as information produced by the entity (IPE). When IPE is identified, regulators expect management to verify (test) the completeness and accuracy of the information or data used by management to perform key controls or that is relied on to make significant business decisions. There is also an expectation that both external and internal auditors will determine if IPE is appropriately verified prior to management’s reliance on such
information or data. Utilize the KnowledgeLeader website and perform the following:
A. Authenticate to the KnowledgeLeader website using your username and password.
B. Perform research and identify the most common types or forms of IPE. What are key risks associated with management’s reliance on IPE? Identify the most common strategies for testing IPE.
C. Submit a brief write-up indicating the results of your research to your instructor.