Explain the tests of controlor systems based auditing, Financial Management

Assignment Help:

Tests of controlor systems based auditing

Tests to obtain audit evidence about effective operation of the accounting and internal control systems. It isn't concerned about detailed underlying transactions though interested in the controls which are in place which manage the information.Itis testing that the control is:

Properly designed.
Exists.
Has operated throughout the period.

Related Discussions:- Explain the tests of controlor systems based auditing

Types of companies likely to have high operating leverage, Give two example...

Give two examples of types of companies likely to have high operating leverage.Find examples other than those cited in the chapter. Long distance electricity generating compani

Valuation and exit - hedge fund, Valuation and Exit Valuation: The Net ...

Valuation and Exit Valuation: The Net Asset Value is used as a base for ascertaining the prices applicable to investor subscriptions and redemptions. Fund administrator perform

Define the advantages of collecting early, What are the advantages of “coll...

What are the advantages of “collecting early” and how do companies attempt to do this? Money has time value. The sooner cash is collected, the better. Companies employ regional

Calculate the average interest rate , At the end of 1922, your great grandf...

At the end of 1922, your great grandfather (g.g.f.) established a trust fund to be used in order to help a later generation of the family obtain a university education. The ultimat

What is the debt security in the financial term, What is the debt security ...

What is the debt security in the financial term? Debt instruments are instruments which promise the payment of specified sums to the investor. Illustrations of debt instruments

Difference between a parallel loan and back to back loan, Describe the diff...

Describe the difference between a parallel loan and a back-to-back loan. Answer: A parallel loan contains four parties. One MNC (multinational company) borrows and re-lends to

Discounting technique for calculating time value of money, DISCOUNTING TECH...

DISCOUNTING TECHNIQUE is also called present value technique. It is the process of calculating the present value of cash flows. Discounting is determining the present value of a

What is accelerated depreciation, Q. What is Accelerated Depreciation? ...

Q. What is Accelerated Depreciation? Accelerated Depreciation - Method which records greater DEPRECIATION than STRAIGHT-LINE DEPRECIATION in the early years and less depreciati

Budget, what are the advantages and disadvantages of incremental budgeting?...

what are the advantages and disadvantages of incremental budgeting?

What is the modigliani and miller theory of dividends, What is the Modiglia...

What is the Modigliani and Miller theory of dividends? Explain. The Modigliani-Miller theory of dividends says so as dividend theory is irrelevant. They claim so as to it is

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages