4552 S4 Fall 2010

Com casesantasgiftworldcom thiscasewillshowus

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Unformatted text preview: Financial Administration Act which requires that payments be properly authorized Duplicate, incorrect or unauthorized payments could occur Increased likelihood of data errors between systems Auditor must consider likelihood of material incorrect payments 19 Overall assessment of control environment Overall assessment of control environment and impacton audit (2005 AGR) POOR Control risk will need to be set at maximum Auditor cannot conduct control testing Substantive testing must be used to obtain audit assurance Other: data quality will be poor; unauthorized access to data (privacy violations) is likely 20 Case – Santasgiftworld.com Case – Santasgiftworld.com This case will show us that controls have multiple purposes: they address busine...
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This document was uploaded on 02/15/2014.

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