Computer accounting control procedures are referred to as general or application controls. The primary objective of application controls in a computer environment is toa. ensure that the computer system operates efficiently.b. ensure the validity, completeness, and accuracy of financial transactions.c. provide controls over the electronic functioning of the hardware.d. plan for the protection of the facilities and backup for the systems.

Q: Internal controls are critical for any organization's risk of fraudulent activity. Additionally, new…

A: This topic discusses how an advanced technology transaction processing system may assist any firm in…

Q: When an auditor tests the internal controls of a computerized accounting system, which of the…

A: Internal controls are the procedures that are implemented for controlling the fraudulent activities…

Q: The use of a bank account addresses which objective of internal control? Group of answer choices…

A: A bank account is an account with a bank for an enterprise. It reflects the balance of cash kept in…

Q: Describe the procedures typically performed when conducting an IT audit related to: a. Systems…

A: Audit procedures Audit procedures are those steps that are performed by auditors to get all the…

Q: Computers remove a fundamental separation of functions between authorizing and processing…

A: It is a true statement that computers remove a basic separation strategy of separating the functions…

Q: Differentiate “auditing around the computer” and “auditing through the computer”.

A: Auditing is a process of examining the control system of an organisation so that it can be…

Q: Case 1: The CARE Corporation uses an IBM mainframe computer system with peripheral optical reader…

A: Most PCs are advanced PCs which utilize a particular language to convey inside itself to deal with…

Q: Internal controls do each of the following except: A. Evaluate performance of employees B.…

A: Internal control is a system designed by the organisation for Accounting and auditing purposes which…

Q: CPAs may audit around or through computers in the examination of financial statements of client who…

A: Auditing is explained as a process used by the auditor in examining records of the organization and…

Q: .Explain the relation ship between application controls and transaction related audit objectives .…

A:

Q: Explain how source data automation is used in the commerce and financial institutions

A: When the data is collected at their point of origin in digital form, it is known as source data…

Q: A CIS environment exists when a computer of any type o. size is involved in processing of an…

A: Answer: CIS is defined as one of information system which is based on computer information system.…

Q: ontrol problems in the system

A: Internal control system is a set of policies and procedures to be followed in case of operations of…

Q: of internal financial controls.

A: Internal financial controls are policies and procedures adopted by a company to ensure the orderly…

Q: Your client has outsourced the majority of the accounting information system to a third-party data…

A: The fact that your client has outsourced the majority of its accounting information system to a 3rd…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing Around the Computer: It is an auditing approach that is used to test or check the…

Q: The basic components of an organization's internal control are:                 Select one: a.…

A: Internal control is a system of organizing the company in which a set of rules, policies, and…

Q: Describe briefly the processing of transactions, including internal control features, in the…

A: Internal control:   It is a business activity that aids in the protection of a company's assets. It…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Andy is a junior accounts clerk. Andy has the responsibility of keying transactions into the…

A: Risks in the case of accounting entries:  1. Numerical errors: Accounting entries are all about the…

Q: Internal controls play an important role in reducing the risks of fraudulent activities in any…

A: Internal controls are the principles, policies, procedures formed by the management of the Company…

Q: Operating system security involves policies, procedures, and controls that determine who can access…

A: Test of controls refers to the audit process that test the control effectiveness used through the…

Q: Explain the primary functions of internal controls procedures in the accounting area

A: Definition: Internal control: The internal control refers to the plan of a company. Implementation…

Q: The increasing use of sophisticated EDP systems has produced significant changes in the accounting…

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: Internal control is said to be the backbone of all businesses. Which of the following is the…

A: Every business organisation has its own objectives and goals. Business wants to achieve that goals…

Q: The internal audit function is part of what element of the internal control system? a.Risk…

A: Five elements of internal control system are: 1. Risk assessment 2. Control activities 3. Control…

Q: he importance of internal control is to protect against all of the following EXCEPT     integrity…

A: Internal controls: Internal controls are the controls which are defined for the purpose of Auditing…

Q: In auditing through the computer, CPAs may use test data. (1) What are test data? (2) Why do CPAs…

A: Auditing is the process of independent examination of the information and the accuracy of the…

Q: CPAs may audit around or through computers in the examination of financial statements of clients who…

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Which of the following benefits of an effective accounting information system provides safeguards…

A: Definition:   Accounting information system (AIS): An accounting information system (AIS) is a…

Q: Authorization and Segregation of duties are the part of __________ a. Internal Control system b.…

A: Internal Control System :  It provides two types of controls within the entity, they are Preventive…

Q: describe the use of the results of the accounting process in security analysis.

A: Financial statements provide the basis for equity and credit analysis. However, analysts must make…

Q: CPAs may audit around or through computers in the examination of financial statements of clients who…

A: Audit is defined as inspection of the books of the accounts through auditor followed through…

Q: What types of physical controls are in place to protect company assets (assets include inventory,…

A: Hi, since you have posted multiple questions, we are solving the 1st question for you. To get the…

Q: Providing timely information about transactions in sufficient detail to permit proper classification…

A: Internal control: Internal control is a process which ensures continuous reliability of…

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: As the CFO of the organization, you are currently working at, you have been charged with creating…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: An audit is the unbiased and independent examination of financial records and statements of an…

Q: Which of the following is often called a compensating control?a. transaction authorizationb.…

A: The compensating control is referred to as a type of control that is meant for reducing attacks and…