Question: Explain why strong IT general controls and strong IT application controls are important when an auditor plans to use ADA as a substantive test of

Explain why strong IT general controls and strong IT application controls are important when an auditor plans to use ADA as a substantive test of details.

Step by Step Solution

★★★★★

3.45 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Consider a substantive test of details to validate the amount ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Principles of Auditing Questions!

What general considerations are important when an auditor decides on an acceptable risk of assessing control too high?

What general considerations are important when an auditor decides on an acceptable risk of assessing control risk too low?

One of the fundamental changes that occurred upon passage of the Sarbanes-Oxley Act of 2002 is that the audit profession is no longer allowed to be self-regulatory. Now, the Public Company Accounting...

Explain why strong IT general controls and strong IT application controls are important when an auditor plans to use ADA as a substantive test of details.

You are a senior auditor of the accounting firm QNE Partners. Your audit team is currently planning the 2019 audit of Trendy Furniture Limited, a listed Australian company that manufactures home...

If possible pls help me with this via email as the answer should be limited to one individual per submission. again pls if possible thru email antonionlyfans6969 g mail.com Prepare a word doc., about...

Hi can u pls help me to find out the auditing MCQ questions answer .I attach a file.please.My email id is (ruhin_1986@yahoo.com) 1 Marks: 1 When an auditor calculates the gross margin as a percent of...

Suzie Pickering has experience in the clothing and retail industry, which is why she was assigned to the Cloud 9 audit. Suzie is mentoring Ian Harper, a first-year staff on the audit team, and they...

attached Case 21: ZOU's Fencing Controls Handout 1 Page 1 ZOU Fencing Inc. (Case 13-9 handout) Account Scoping and Risk Assessment Account Balance and Disclosure: Revenue Class of Transaction:...

ACC555 FINAL EXAM NAME _______________________________ 1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts...

Consider a green tree leaf of area 29.7 cm2 absorbing red light coming from the Sun as a plane wave with the wavelength of 650 nm and electric field amplitude 0.43 kV/m. Find the amount of energy...

The viscous sublayer (Fig. 6.10) is normally less than 1 percent of the pipe diameter and therefore very difficult to probe with a finite-sized instrument. In an effort to generate a thick sublayer...

What is a market order? What is a limit order? How are each executed? ( LG 8 - 5 )

LO1-3 Explain real-world events in terms of economic forces, social forces, and political forces.

Romenesko Conglomerate Co. recently acquired Teasedale Cosmetic Company through a tender offer for all the common stock of Teasedale Cosmetic.Teasedale stock had been trading on the market at $25 per...

Merrill Publishing Company has operated primarily as a printer for catalogs, SEC filings, and phone books. During the past few years, it has: Expanded into a new product line in magazine publishing...

The auditor should review the bond indenture at the time a bond is issued and any time subsequent changes are made to it. Required a. Briefly identify the information the auditor would expect to...

uBreakiFix is a national chain stores that helps fix computer equipment including smart phones, tablets, laptops, and desktops. Below is the 12/31/21 adjusted trial balance of the uBreakiFix location...

Four years ago, you bought a home for $200,000. You paid $20,000 down and agreed to a 30-year mortgage with a 6% annual interest rate (APR). You have made regular monthly payments and periodic...

You are considering three stocks with the following expected dividend yields and capital gains: Dividend Yield Capital Gain A 15% 0% B 1 14 C 0 15 What is the expected return on each stock? A % B % C...