Examples of approaches to management testing of operating effectiveness of controls Requirements: a. Please identify the type of control for each of the control listed below. b. Please provide possible management testing approach for each of the control listed below. Control to be tested: 1) As part of the organizations risk assessment process, formal forecasts are prepared and updated during the year to reflect changes in conditions, estimates, or current knowledge 2) The organization has a documented and approved disaster recovery plan, which includes off-site storage controlled by a 3rd party vendor 3) The organization has a policy requiring that a revenue recognition review performed by the revenue accountant before revenue from complex contracts is recorded. 4) Surveys of internal users of financial reports are conducted to obtain information on user satisfaction with the reliability and timeliness of the reporting from all executives. 5) A company requires AP personal from accounting enters AP invoices into system only once. This policy is included in written employee handbook, which requires employee follows the following steps when entering AP invoices: 1. 6) A bank has a know your customer policy that requires a position within the bank dedicated to comparing list of suspects from Federal Banking Agencies and law enforcements with their own customer list to make sure theres no illegal account. 7) A banks know your customer policy requires the bank to verify customers true identity before opening account with the bank by providing two photo IDs and letter with address.