internal controls

Q: ine Internal Control CORIT DIT E

A: 1.  Internal control—a process affected by a college or university's governing board,…

Q: Distinguish between turnkey, backbone, and vendor-supported systems.

A:

Q: Requirements:

A: The percentage of completion method is a revenue recognition accounting concept that evaluates how…

Q: Define control decisions.

A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…

Q: Explain how an IT environment affects access control.

A: Information technology plays the pivotal role in the survival and success of any entity in modern…

Q: What is the purpose of Access Security Software?

A: Introduction: Access security is a procedure that is implemented into the information technology…

Q: What is keystroke monitoring?

A:

Q: What information would a batch control record contain?

A:

Q: Relationship between IT Control and Financial reporting

A: Information Technology (IT) control can be defined as the specific activities that are performed by…

Q: purpose of control accounts'

A: Control accounts are general ledger accounts used to record similar transactions.  Purpose - To…

Q: Explain internal control. Suggest suitable system of internal control of CSD.

A: Internal control is the procedure, rules used by business in order to ensure the solidarity of the…

Q: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: analytical procedures

A: First option is correct because analytical procedures assist to identify the risk by comparing the…

Q: taining in

A: Managerial Responsibilities entail being in charge of the overall management of a work unit (or…

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: operational audit

A: Operational audit is the type of audit service that the review is mainly focused on the key…

Q: internal control principle that is applicable to each procedure.

A: Internal control principles are the set of standards to be adhered to while implementing controls in…

Q: A company's internal control system:

A: ABOUT  COMPANY'S INTERNAL SYSTEMS AS UNDER

Q: Define operating activities.

A: Explain the meaning of operating activities:Statement of cash flows: This statement reports all the…

Q: Explain discretionary access privileges.

A: In discretionary access privilege, the proprietor of the item indicates which subjects can get to…

Q: Information

A: The cost of goods manufactured (COGM) is the sum of the cost of direct labor used, the cost of…

Q: audit risk.

A: First option is wrong because the inherent risk is the risk of material misstatements that may exist…

Q: what is the difference between internal and external users of information, their needs and demands…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: IT Governance Risk issues

A: IT Governance: It is a framework that assists the organizations in ensuring that the business…

Q: important to manage transaction exposure

A: The RISK - posed by firms participating in international commerce that currency exchange rates will…

Q: Differentiate management control from joint control.

A: Control refers to the authority to make important decisions and rule other important activities of…

Q: audit

A: Not likely to a violation     as auditor can show his work to any outsider if required by law

Q: What are internal controls?

A: Internal Control: Internal control refers to the plan of a company. Implementation of an effective…

Q: What is a management control system?

A: Management control system:

Q: Describe internal event with example.

A: Definition:   Accounting event: An accounting event is a transaction that is recorded in the books…

Q: internal reporting.

A: Option a is wrong because one of the options is correct. Option b is wrong because ABC can only be…

Q: = preventive controls™

A: 1st option is wrong because it can not be ensured that preventive controls are 100% effective. 2nd…

Q: How testing transaction as appropriate in in

A: Internal Control System: An internal controls system includes a group of rules, policies, and…

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 are some tests of data communications controls?

A:

Q: Discuss both internal and external factors affecting the ITP systems.

A: Internal Factors:1)Internal Social EnvironmentProblems with transfer pricing exist only inside a…

Q: Distinguish between conceptual and physical systems.

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: What is a run-to-run control?

A: During computer processing, processing controls keep an eye on the quality of accounting results.…

Q: Assurance

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

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,…

Q: onal structure. sting.

A: To given the correct option as,