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Why batch input controls are very important during an audit

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Reference no: EM131017058

Answer the following questions

1-The chapter mentions that testing of controls is very important. The auditor has two options:

a- Spend extra time testing controls in the hope they are strong and then reduce substantive tests later, if they are found to be strong.

b- Assume internal controls are weak and spend most of the time doing substantive tests.
Which of these approaches do you prefer? Why? Discuss the pros and cons of each of these approaches.

2- Two methods exist: Auditing around the computer and Auditing through the computer. Based on your readings, which of these methods do you prefer? Why? What are the potential advantages and disadvantages of each method?

3- Discuss why batch input controls are very important during an audit? What are the risks of weak controls in this area.

Reference no: EM131017058

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