What does the Good internal control helps ensure?

Q: What are the objectives of the internal control?

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

Q: How is EDI more than technology? What unique control problems may it pose?

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Q: What is the basic relationship between the effectiveness of the client’s internal control and the…

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Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: Look at the definition of “internal control” For each internal control objective, what does it cover…

A: Introduction: Internal control refers to the controlling mechanism and efficiency measurement…

Q: What is management fraud?

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: explain the importance of internal control procedures.

A: Internal control: Whatever be kind of control, whether economic or related to the management or any…

Q: what is control risk

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Q: What is an external auditor?

A: Auditor is a person who audits the accounts of the business.

Q: What are the basic risk faced by financiwl intermediaries?

A: When two parties are transacting together and one person or entity is making the transaction easier…

Q: Why an internal control system can only provide reasonable assurance on the achievement of an…

A: Internal Control is the process designed, implemented and maintained by those  charged with…

Q: What is the definition of internal control, and what are thefive components of COSO’s internal…

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Q: In your own words, why do we need control plans?

A: Control plan is a document that states the measures to maintain the quality of the products. It…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: Evaluation of internal control

A: Effectiveness of the internal control of an organization’s system is known as an evaluation of…

Q: How do you determine if Control Procedures are operating properly or not operating properly?

A: Controls are the procedures set up by the organization to ensure that the financial and operational…

Q: How does the Sarbanes-Oxley Act relate to internal controls?

A: Sarbanes-Oxley act was formed in 2002. It was made to restrict the fraudulent financial reporting.…

Q: What are threats and safeguards to independence?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: Give an explanation about this statement: Why does control or internal control fails?

A: Internal control refers to the process of implementing and exercising the various mechanisms, rules,…

Q: What are the computer ethical issues regarding security?

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Q: What are some tests of physical security controls?

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Q: What are the risks from subversive threats?

A: Taking illegal access over a firm internal system network by doing activity of surpassing the…

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 does Internal Control provide reasonable assurance for?

A: Internal Controls:   Internal controls are the controls established within an organization to check…

Q: What is meant by a “top-down” approach to evaluation of internal controls?

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Q: What type of internal control is establishing a code of ethics?

A: A code of ethics contains the principles and procedures guiding people to act in desired manner…

Q: Explain one of the principles of Internal Control Activities.

A: Internal control means creating a control environment in the organisation which ensures safeguarding…

Q: What is accountability

A: The transactions that are happened in the company will be analyzed, and recorded in the first book…

Q: What is the cause of the agency problem and how do we try to solve it?

A: Agency Problem:  An agent is a person who acts on behalf of another person. An agent should always…

Q: What is the purpose of physical controls?

A: Internal controls are policies incorporated by the Management to safeguard the assets of the…

Q: What is meant by the control environment? What are the factorsthe auditor must evaluate to…

A: Control environment is an internal control environment . It ensures the overall attitude, awareness…

Q: COSO to Assess IT Controls

A: Answer:  Internal control is very basic measure to minimize the risk in any organization. In today's…

Q: What are the components of the Control Environment?

A: Control environment refers to the set of policies, processes, standards, and actions of top-level…

Q: What is the internal control principle?

A: Internal control means to control and check everything related to management. It ensures that the…

Q: The quality of the environment in which internal control operates has a pervasive effect on many…

A: Concept Pervasive effect               Pervasive effect means that the effect is spread to most of…

Q: What factors led to the success of SafeSave?

A: The SafeSave payment services is an online platform that provides the facility for the payments for…

Q: The objectives of internal control are to

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

Q: What is an agency problem?

A: The agency drawback may be a conflict of interest that happens once agents do not absolutely…

Q: What are some limitations of internal control?

A: The below-mentioned points indicate that every system has its frailties and despite such…

Q: What is a run-to-run control?

A: During computer processing, processing controls keep an eye on the quality of accounting results.…

Q: Describe some common examples of Control Activities.

A: Control activities: Control activities are more concerned about the protection of the resources of…

Q: Discuss limitations to establishing the system of internal controls at organization.

A: Internal controls are those rules and procedures established by a company to ensure the correctness…