Admin Table of Contents
What are the 5 internal controls in auditing?
There are five interrelated components of an internal control framework: control environment, risk assessment, control activities, information and communication, and monitoring.
What are the 5 control activities?
The five components of COSO – control environment, risk assessment, information and communication, monitoring activities, and existing control activities – are often referred to by the acronym C.R.I.M.E.
What are the types of general control?
General controls include software controls, physical hardware controls, computer oper- ations controls, data security controls, controls over the systems implementation process, and administrative controls.
What are the five types of application control?
Application control includes completeness and validity checks, identification, authentication, authorization, input controls, and forensic controls, among others.
What are the general internal controls?
The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.
What are general control activities?
Control Activities: These are the policies and procedures that help ensure actions are taken to mitigate risks that impact the University’s objectives. The activities include approvals and authorizations, documentation and verifications, reconciliations, security of assets, and segregation of duties.
Which of the following is a component of general controls?
General controls are those that relate to all aspects of the IT function. They include controls related to administration, software acquisition and maintenance, physical and on-line security, backup and disaster recovery planning, and hardware controls.
What do General IT controls protect?
IT General Controls (ITGC) They help ensure the reliability of data generated by IT systems and support the assertion that systems operate as intended and that output is reliable.