Strategies for testing internal controls

Assignment Help Finance Basics

Reference no: EM1360498

a. Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing.

b. Identify two strategies that might be used to support a low control risk assessment. Discuss the difference between the two strategies.

c. Discuss a third audit strategy that might be used to assess control risk at a high level. Explain why this strategy will not support a low control risk assessment.

2. What are the advantages and disadvantages of the computer-assisted audit technique known as parallel simulation?

3 a. What is the difference between the conventional test data approach and the integrated test facility approach?

b. In lieu of traditional testing, what approaches can be used in on-line entry/on-line processing systems?

Reference no: EM1360498

Questions Cloud

Explain the messages view of the audience : Explain the message's view of the audience and stakeholders based on the written profile.

Explain difference transactional and transformational leader : Explain difference between transactional and transformational leadership

Illustrate what are the formulae for both average economy : Jack is in the umbrella making business. The economic cost of each umbrella is $2. Illustrate what are the formulae for both the average economic cost curve and marginal cost curve.

How much time is required to stop the crate : How much time is neccesary to stop the crate. A block with mass m = 5.5 kg slides down an inclined plane of slope angle 10.9 ° with a constant velocity. It is then projected up the same plane with the initial speed 3.85 m/s. How far up the incline ..

Strategies for testing internal controls : Discuss and explain three strategies for testing internal controls when information technology is used for significant accounting processing.

Show standards of living in the u.s. : How does the standard of living differ for the average American versus for the average person living in India

Explain how the negotiation experience actually happened : Explain how the negotiation experience actually happened and then consider the negotiating techniques

Heritage influencing-religious and political beliefs : Our cultural heritage can have a significant impact on our lives. Our heritage influences our religious and political beliefs, interests and hobbies, and even the food we eat.

Write a trigger for total percentage of all appointments : Write a trigger on Works department to ensure the following requirement; the total percentage of all appointments for an employee must be fewer than 100%.

User Account

All Pages