44. (TCO J) Utilizing the auditing through the computer approach, explain what types of procedures you would perform as an auditor in evaluating an online order processing system. Name a control that could compensate for inadequate segregation of duties in a computer system. 45. (TCO J) One of the major problems in a computer system is that incompatible functions may be performed by the same individual. Identify from the below choices the control compensating for inadequate segregation of duties in a computer system. Explain why you have selected your response.
46. (TCO K) You are the senior auditor for WWZ Co. and you have completed the testing of all the accounts. However, prior to issuing your report, what are at least five other procedures or reviews that must be performed prior to issuing your report? Explain your responses. 47. (TCO K) For which of the following matters should an auditor obtain written management representations? Select one of the below situations and explain your response. 48. (TCO K) When considering the use of management’s written representations as audit evidence about the completeness of an assertion, an auditor should understand that such representations(Select one of the answers that best completes this sentence and explain your response.) (a) constitute sufficient evidence to support the assertion when considered in combination with a sufficiently low assessed level of control risk.(b) complement, but do not replace, substantive tests designed to support the assertion.(c) are not part of the evidence considered to support the assertion.(d) replace a low assessed level of control risk as evidence to support the assertion.A. The answer is B. AU333 states that management’s representations are audit evidence but do not substitute for procedures necessary to afford a reasonable basis for the opinion. Thus, they complement other audit procedures. See Chapter 24.
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