Question: The following exercise relates to application control objectives for the financial cycle. 1. List at least two application controls used in the financial cycle. such

The following exercise relates to application control objectives for the financial cycle.

1. List at least two application controls used in the financial cycle.

such as bank reconciliations and physical inventory counts.

2. Give an example of how the associated IT controls would be implemented for these control objectives.

3. How would this improve internal control?

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