Chapter 6 part 1 - Physical security Internal control ain a...

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New audit reporting requirements of CPA firm Inclusion of managements assessment Audit committees Must include at least one “financial expert.” Affective seg duty of is from … standpoint Permitting programmers to test programs using only fictitious data New rule for auditors Lead audit partners every 5 years Type of internal control activity are bank statements
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Unformatted text preview: Physical security Internal control ain a way to provide reasonable assurance Preventing fraudulent acts Effective seg of duties A, handling cash Independent check on performance Counting inventory (correct) Risk that exists before mgt. takes any steps Risk assessment...
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This note was uploaded on 04/18/2008 for the course ACC 313 taught by Professor Moncada during the Spring '08 term at Indiana State University .

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