Question
You are engaged to examine the financial statements of Horizon Incorporated, which has its own computer installation. During the preliminary understanding phase of your study
You are engaged to examine the financial statements of Horizon Incorporated, which has its own computer installation. During the preliminary understanding phase of your study of Horizons internal control, you found that Horizon lacked proper separation of the programming and operating functions. As a result, you intensified the evaluation of the internal control surrounding the computer and concluded that the existing compensating general controls provided reasonable assurance that the objectives of internal control were being met. Required: a. In a properly functioning IT environment, how is the separation of the programming and operating functions achieved? b. What are the compensating general controls that you most likely found?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started