What are the six broad classes of physical control activites defined by SAS 78/ COSO?

Q: Why is the concept of independence such an internal part of AICPA Code?

A: AICPA is American Institute of Certified Public Accountants, which is the leading organisation and…

Q: Describe the importance of adequate internal controls.

A: Definition:   Internal control: Internal control is a process that ensures continuous reliability fo…

Q: What is the difference between Test of controls and Substantive procedures, give an example of each…

A: An audit assesses the integrity of a company's financial statements as well as the efficacy of its…

Q: What are the five components of internal control? Briefly explain each component.

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: Which of the following is an element of the Oa. Risk assessment plans Ob. Managements' operating…

A: The right answer is b Management's operating styles

Q: What are five common internal control principles?

A: Controlling is one of the main managerial functions of any organisation. Managerial functions are…

Q: What are the five components of Internal Control?

A: Five components of internal control are: Control environment - It refers to top management attitude…

Q: The five aspects of internal control are identified and described in (a). (b) Is there a single…

A: Here is the answer :

Q: What is internal control Describe TWO categories of internal control objectives and TWO components…

A: Control refers to the methods and procedures being followed by an organization for ensuring the…

Q: Explain the three authorized controls

A:

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: 1. Explain the term internal controls. 2. Explain two (2) major objectives of a system of internal…

A: 1. 1. Internal controls are the procedures, processes and systems that an organization puts in place…

Q: What are the five components of internal control? Briefly explain each component?

A: The components of internal controls are explained below :

Q: Describe the four organization objective categories in the internal control framework. How are they…

A: Internal control systems are the policies, procedures framed by the management of the Company to…

Q: What are the 5 components of Internal Control?

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: Question: Briefly discuss what is internal control is all about using the definition?

A: Every company requires internal controls. Internal controls are quite important for an organization…

Q: Controls are classified as general as well as application. Discuss, using appropriate examples, any…

A: Internal Controls: Internal controls are the safeguards put in place within an organization to…

Q: reporting of control procedures required

A: There are few reasons why control measures are required in reporting. Some of them are as below.

Q: What are the three steps to assessing internal control risk?

A: Internal control risk is the possible exposure that an organization may have due to defects or…

Q: Define and describe the five basic components of internal control and specifysome of their…

A:

Q: What are the three steps of controlling?

A: Introduction: Controlling is referred as terminal management function because it takes place after…

Q: List the four major categories of general controls, and Identify the objectives of each.

A: General controls refer to the information system activities to be applied in the whole…

Q: Which of the following is not a component of internalcontrol?a. Environmental assessmentb. Control…

A: Internal control: Internal control is a process which ensures continuous reliability of…