Briefly describe record counts, batch totals, and hash totals. What types of errors in input wouldeach of these controls likely identify?

Q: What type of internal control would recalculating the totals on a computer report be?

A: Step 1:   The rules and procedures implemented by a company to ensure the integrity of the…

Q: Discuss the independence issue related to Generalized Audit Software

A: GAS stands for Generalized Audit Software, which is defined as the software created in order to…

Q: Explain how an embedded audit module works.

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Q: What information would a batch control record contain?

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Q: What are the primary objectives of a batch control?

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Q: A control designed to validate a transaction at the point of data entry is a. recalculation of a…

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Q: Which of the following is NOT a test for identifying application errors? a. reconciling the source…

A: Application errors are those errors which occur when an application fails to work according to the…

Q: Give one example of an error that a check digit control detects.

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Q: What is (are) the purpose(s) of maintaining a valid vendor file?

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Q: How audit programs that need to be made to detect vulnerabilities in the firewall?

A: Auditing for security is very important and requires frequent and strict auditing that covers…

Q: Categorize each of the following as either an equipment failure control or an unauthorized access…

A: Access Control: Access control is one of the main security components present in an operating…

Q: What is an access control list?

A: Access Control List  The list which restricts the access of the objects attached in an information…

Q: program itself will:

A: Auditing is the investigation, inspection, or examination of the financial statements of an…

Q: What activities are involved in the batch processing system?

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Q: What very important precautions must be taken during the data conversion procedures?

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Q: Define check tampering.

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Q: Describe the errors, irregularities, or misstatements that could occur due to the weaknesses…

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Q: How are system flowchart and program flowcharts related?

A: System flowchart(SF) is a way to display data flow in a system and the decision to be made for…

Q: For each of the following file processing operations, indicate whether a sequential file, indexed…

A: Definition: Access Method: Access method is the method by which data stored in the database can be…

Q: Suggest appropriate data entry and data processing controls to ensure spreadsheet accuracy.

A: Accuracy in data entry can be improved by identifying the source of inaccuracies, adhering to robust…

Q: Define and describe auditsampling for exception rates

A: Audit sampling: Audit sampling can be defined as the selection of items from a population to be used…

Q: Mention two audit procedures relating to electronic data interchange controls

A: Audit: Audit is the process of verification of the compliance of the financial statements. It…

Q: The purpose of a checkpoint procedure is to facilitate restarting aftera. data processing errors.b.…

A: The purpose of a checkpoint procedure is to facilitate restarting after data processing errors.

Q: What type of internal control is preparing batch totals for check processing?

A: Internal controls: It refers to those rules and procedures that are implemented by an enterprise for…

Q: If detective controls signal error flags, why shouldn’t this type of controls automatically make a…

A: Definition:   Internal control: Internal control involves the norms and rules which are followed…

Q: Explain the GPC backup technique. Is it used for sequential files or direct access techniques?…

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Q: Why might an auditor use a program flowchart?

A: Flowchart:   Flowchart is representation of procedures concerned with the transactions in the…

Q: In one sentence, what does updating a master file record involve?

A: Definition: Database: A database can be defined as a collection of structured data that is stored in…

Q: How is the access control list approach different from RBAC?

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Q: Briefly provide your opinion whether an auditor wishing to assess the adequacy of separation of…

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Q: Refer to the system flowchart below and identify the internal control risks represented in it:

A: System flowchart is a data flow diagram that analyze the beginning criteria and end results of a…

Q: What type of internal control is verifying source documents before recording transactions?

A: Step 1:   The verification of source documents means to check if all the documents relating to a…

Q: Discuss the three common methods of handling errors in transaction files.

A: Errors in the books of accounting should be corrected as soon as possible, so that the financial…

Q: What are CAATs (Computer-aided audit tools)?

A: CAAT is a technique through which, computer is being used in performing some part of the auditing…

Q: What controls should be employed to avoid breaches into an accountijg information system.

A: An Accounting Information System (AIS) is a system which the businesses are using to recognize,…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.