Refer to Exhibit 9.5 (pg. 325). For each pair of factors, describe why you believe the factor
Question:
Refer to Exhibit 9.5 (pg. 325). For each pair of factors, describe why you believe the factor in the right column provides a higher level of assurance.
That is, why do these factors indicate a stronger control?
Transcribed Image Text:
EXHIBIT 9.5 Level of Assurance Provided by Internal Controls The degree of assurance, the quality, and the effectiveness of internal controls may be based on several factors: Less Assurance Manual control Control is performed by a junior, inexperienced person Detective control Single control Control checks some items (sampling) Control takes place after the event occurs Greater Assurance Automated control Control is performed by an experienced manager Preventive control Multiple, overlapping controls Control checks all items Control takes place as the event occurs
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Certainly Lets explore the factors listed in Exhibit 95 and understand why those in the right column provide a higher level of assurance compared to their counterparts in the left column These factors ...View the full answer
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I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
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Related Book For
Accounting Information Systems
ISBN: 9780538469319
9th Edition
Authors: Pat Wheeler, Ulric J Gelinas, Richard B Dull
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