The below control transactions relate to the integrated audit of an issuer. Determine if each control is an entity-level control. If the control is not an entity-level control, determine which cycle the control most likely relates to.

1. Mgmt.s philosophy and operating style promote effective internal control over financial reporting.
2. Timecards are approved by an employees immediate supervisor.
3. All computers have identification plates that are listed in a control account.
4. The purchasing department obtains competitive bids from various suppliers to make sure that the best price is obtained for supplies.
5. The audit committee reviews the annual and quarterly financial statements before filing with the SEC.
6. The shipping department utilizes serially numbered bill of lading.
7. Management signs off that they have read and understood the companys code of ethics.
8. Shipping documents and sales orders are matched before preparing a customers invoice.

Options

*Entity Level Control

*Expenditure Cycle

*PPE Cycle

*Revenue Cycle

*Payroll & Personnel Cycle