1. A company requires the controller's e-approval for all fixed asset purchases in excess of $50,000. Audit software can be used to identify if there are any instances where a fixed asset purchase in excess of $50,000 lacked the controller's e-approval, instead of manual checking. True or False

2.

The financial statement auditor relies on the work of the IT auditor to assess the design and implementation and, if taking a reliance strategy, to test the operating effectiveness of certain controls. Which of the following controls do not require the help of an IT auditor?

A.

General IT controls

B.

IT-dependent controls

C.

Automated controls

D.

Entity-level controls