1.Discuss why the control matrix is custom-tailored for each business process.
2.Explain why input controls are so important. Discuss fully.
3.Describe the similarities and differences between limit checks and reasonable checks. Give examples where each may be appropriate.
4.In evaluating business process controls and application controls, some auditors differentiate between the point in the system at which the control is “established” and the later point at which that control is “exercised.” Speculate about the meaning of the terms “establish a control” and “exercise a control” by discussing those terms in the context of:
a. Batch total procedures
b. Turnaround documents
c. Tickler files
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