Which of the following is NOT a general control?* a. Backup of live data b. Use of passwords c. Setting an acceptable range for working hours d. Calamity-proof IT facilities ABOUT AUDITING/ACCOUNTING TOPICS
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- Controls used in the management of a computer center to minimize the possibility of using an incorrect file or program area. Control totals.b. Record counts.c. Limit checks.d. External labels.Computer Internal Control Questionnaire Evaluation. Assume that, when conductingprocedures to obtain an understanding of Denton Seed Company’s internal controls, youchecked “No” to the following internal control questionnaire items:∙ Does access to online files require specific passwords to be entered to identify and validate the terminal user?∙ Does the user establish control totals prior to submitting data for processing? (Orderentry application subsystem.)∙ Are input control totals reconciled to output control totals? (Order entry applicationsubsystem.)Required:Describe the errors and frauds that could occur because of the weaknesses indicated by thelack of IT controlsWhich of the following controls would most effectively minimize the need to correct failures to collect required information in the account opening process? A quality review staff that checks paper applications to ensure all fields are complete An automated account opening platform that required data entry prior to allowing the accoun to be opened Requiring that a manager review and apprive all new account applications Documenting a procedure that sets forth the steps required to open an account
- Assumes that when conducting procedures to obtain an understanding of the control structure in the Fiona Company, you checked “NO” to the following internal control questionnaire items: Does access to on-line files requires specific passwords to be entered to identify and validate the terminal user? Are control totals established by the user prior to submitting data for processing? (order entry application subsystem). Are input control totals reconciled to output control totals? (Order entry application sub system). Required: Describe the errors, irregularities, or misstatements that could occur due to the weaknesses indicated by the lack of controls.The major objectives of control are guard against frauds in data entry/processing check clerical handling of data before it enters a computer to provide a method to trace the steps and find where error has occurred automatically correct errors in data entry/processing Question 17Answer a. i and iii b. i,ii, iii, iv c. i, ii and iv d. i, ii, and iii e. i onlyCategorize each of the following as either an equipment failure control or an unauthorized access control.a. message authenticationb. parity checkc. call-back deviced. echo checke. line errorf. data encryptiong. request-response technique
- Which of the following is NOT a data communications control objective?a. maintaining the critical application listb. correcting message loss due to equipment failurec. preventing illegal accessd. rendering useless any data that a perpetrator successfully capturesControl Objectives and Procedures Associations. Exhibit 7.64.1 contains an arrangement of examples of transaction errors (lettered a–g) and a set of client control procedures and devices (numbered 1–15). Make a copy of the exhibit page and complete the following requirements.Requireda. Opposite the examples of transaction errors lettered a–g, write the name of the transaction assertion clients wish to achieve to prevent, detect, or correct the error.b. Opposite each numbered control procedure, place an “X” in the column that identifies the error(s) the procedure is likely to control by prevention, detection, or correction.Assertion Associations. Exhibit 7.64.1 contains an arrangement of examples of transaction errors (lettered a–g) and a set of client control procedures and devices (numbered 1–15).Required:For each error/control objective, identify the assertion about classes of transactions and events most benefited by the control.
- SCOPE OF AUDIT IN A CIS ENVIRONMENT High Speed low clerical error Concentration of duties shifting of internal control basea. application systems development controlb.systems software control Disappearance of manual reasonable impact of poor system Exception reporting man-machine interface explain briefly and give examplesWhich of the following is NOT an SDLC controllable activity? a. External audit participation b. User specification c. Systems authorization d. User test and acceptance procedures e. All are SDLC controls1. Data under a traditional ledger system is authenticated by a central authority while data under a blockchain is authenticated through Select one: a. central authority. b. a party outside the blockchain. C. mass collaboration. d. an external audit. 2 Analyzing data with the purpose of determining a casual relationship refers to Select one: a. predictive analytics. b. descriptive analytics. c. diagnostic analytics. d. prescriptive analytics. 3. Which of the following items is not an application of blockchain? Select one: a. joining ERP systems from multinational subsidaries. b. continual updating of real-time data on customer preferences. C. continual updating of financial statements with new transactions. d. joining ERP systems from different companies.
