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

Q: How can Embedded Audit Modules in software be utilized in an audit?

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

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: Which internal control objective is concerned with ensuring that accumulated totals in the…

A: Internal controls are the procedures that are implemented to ensure operational efficiency and…

Q: How do automated authorization procedures differ from manual authorization procedures?

A:

Q: Can you explain how the internal control of Documentation Procedure is violated in this question?…

A: The controls that are implemented to ensure the accountability and the integrity of the financial…

Q: what factor influences the decisions to employ real time data collection with batch updating rather…

A: Transaction process system:   Transaction process system can be defined as a system designed to…

Q: Should an auditor wishing to assess the adequacy of separation of functions examine a data flow…

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

Q: What information would a batch control record contain?

A:

Q: Can I have a control matrix of a production cycle in internal Auditing

A: The definition of internal auditing states the fundamental purpose, nature and scope of…

Q: The general ledger clerk receives summary data from which departments?what form of summary data?

A:

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

A:

Q: How does Real Time Processing affect an audit?

A: Real-time data processing is the program for running multiple rows and columns of data during a…

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

A:

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

A:

Q: How long must audit workpapers be maintained?

A: Definition:   Audit planning: Audit planning includes the designing of audit strategy for the…

Q: What steps of independent verification does the general ledger department perform?

A: The general ledger of an organisation is maintained by the general ledger department. The recording…

Q: What factors influences the decision to employ real time data collection with batch updating rather…

A: Batch Processing through Real Time Data collection system:Real time processing process the…

Q: What is the most crucial aspect of the transition from serial to batch processing?

A: Batch accounting is referred as the transferring system of an items from the ledger, journal, and…

Q: What are the strengths and weaknesses of a batch process with sequential files?

A: In a sequential file processing in batch mode, the master file is updated by incorporating the…

Q: What is the purpose of testing Internal Controls?

A: Definition:   Tests of controls: Tests of controls form the part of audit procedures to be…

Q: What are Post-audit Tasks?

A: An audit is conducted on the accounting records and financial statements of a firm. The purpose of…

Q: how does general control area of systems development and program change impact day-to-day…

A: Accounting Information system:  The Accounting Information System is a system that a business uses…

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

A:

Q: Define check tampering.

A:

Q: Distinguish between batch and real-time processing.

A: Transaction process system:   Transaction process system can be defined as a system designed to…

Q: What are the categories of processing controls?

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: What factor influences the decision to employ real-time data collection with batch updating rather…

A: Definition: Transaction process system: The transaction process system can be defined as a system…

Q: What is meant by a “top-down” approach to evaluation of internal controls?

A:

Q: Why are denormalized tables used in data ware-houses?

A: Data Warehouse:   Data warehouse is also termed as enterprise data warehouse. It can be defined as…

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: How are run charts useful in process control?

A: A run chart is a graph of data that is plotted over time. For a particular process if you collect…

Q: What role does the general ledger department play in the conversion cycle?

A: Conversion Cycle: A set of all processes that are used to collect inputs and convert them into final…

Q: Why might an auditor use a program flowchart?

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

Q: What are internal controls?

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

Q: How are system flowcharts and program flow charts related? (this is related to accounting…

A: System flowcharts refer to the concept of showcasing the whole route of data flows in a system and…

Q: How testing transaction as appropriate in in

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

Q: Give an example for each of the following control activities in the conversion cycle: transaction…

A:

Q: What are subsidiary ledgers and control accounts,and why are they used? Describe how they work.

A: An accounting ledger is an accounting account or record that keeps track of activities on the…

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: Identify and explain the various stages of and parties to the collection of a check.

A: Cheque refers to a financial document which acts as an order to a bank to pay a particular amount of…

Q: Reconciliations of the General Ledger Control Accounts to the Subsidiary Ledgers are an example of…

A: In this we quote an example of Reconciliations of the General Ledger Control Accounts to the…

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…