Questions

$1.$ For each issue identified by management$$s investigation, determine whether it creates a financial statement level risk or an assertion level risk. For any assertion level risks identified, determine the key account and key assertion at risk.

$2.$ From the list of controls selected for testing, determine whether the control is an IT application control or general IT control.

$3.$ For each control, design a test of control to assess whether it has been operating effectively $($i$.$e$.$ the control has met its control objective$).$