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Unformatted text preview: 005 AGR) (1) Accounts were not being reconciled on a timely basis, nor were suspense accounts being cleared on a timely basis
(2) For some accounts, there were no policies and procedures for monitoring (3) Security administration (e.g. user access maintenance) was shared among multiple users
16 Impact on Business and on Audit of Impact on monitoring weaknesses (2005 AGR) Lack of monitoring results in errors going unnoticed; data accuracy and validity are decreased; the risk of loss, exposure or corruption of data is increased
Auditor cannot rely on management review of exception data or on quality of information
17 Common internal control weaknesses: Common internal control weaknesses: Software controls and authorizations (2005 AGR) (1) Control features in software, such as automated matching, are not being used [system development controls]
(2) Some systems are operating independently when they could be integrated [system infrastructures]
(3) Payments are being initiated without matching to receiving documents and without consideration of authorization requirements [manual controls]
18 Impact on Business and on Audit of software and Impact on authorization weaknesses (2005 AGR) Government organizations are violating section 34 of the...
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This document was uploaded on 02/15/2014.
- Winter '13