Explain the tests of controlor systems based auditing, Financial Management

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.

 

Posted Date: 9/3/2013 2:50:05 AM | Location : United States







Related Discussions:- Explain the tests of controlor systems based auditing, Assignment Help, Ask Question on Explain the tests of controlor systems based auditing, Get Answer, Expert's Help, Explain the tests of controlor systems based auditing Discussions

Write discussion on Explain the tests of controlor systems based auditing
Your posts are moderated
Related Questions
What is meant by a currency trading at a discount or at a premium in the forward market? Answer:  The forward market includes contracting today for the future purchase or sale o

A financial consultant obtains different valuations of my company when it discounts the Free Cash Flow (FCF) as opposed to when it uses the Equity Cash Flow. Is this correct? N

Assume that you can receive $25,000 per year forever and that your cost of money is 7%.  What is this opportunity worth today?

Does your company have a cutting-edge product idea that will blaze new trails in its industry? Is it properly retiring out-of-date products and keeping current with new consumer de

Thomas book sales, inc. supplies texbooks to college and university bookstore. The books are shipped with a proviso that they must be paid for within 30 days but can be returned f

State the Examples of tests of controls: Check bank reconciliation has been reconciled as approved by chief accountant. Observe buyer checking the goods received note a

Convertible bonds are the debt instruments issued which can be converted after a pre-specified date for a pre-specified number of securities (generally equity stock). I

Revenue Recognition or Realisation The resources of business are utilized to earn revenue through sale of goods or rendering of services.The American Accounting Association d

The equity accounts for Hexagon International are as follows: a.    If Hexagon stock currently sells for $50 per share and a 20% stock dividend is declared, how many new s

Describe the value maximisation criterion In applying the value maximisation criterion, term value is used in terms of worth to the owners, which is, ordinary shareholders. Cap