Question

Identify and explain, in order of occurrence, the four primary phases to an IT audit Phase...

Identify and explain, in order of occurrence, the four primary phases to an IT audit

Phase Explanation
1.
2.
3.
4.
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

1.planning : in planning phase auditor must gain sufficient knowledge on companyes business and financial reporting system

2. Tests of control : these are audit procedure designed to evaluate operating effectiveness of control system

3. Substantive tests: these are examination of financial statements with underlying supporting documents and ensuring accuracy and correctness of posting

4. Audit reporting : it is an opinion of auditor on financial statements that is weather they are all prepared in all material respects and discloses any defects

he may issue either qualified ( adverse) / unqualified ( good) based on the information obtained in audit

thank you

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Explain the Four-Phase Process of the analytical review process includ: 1) Phase one – formulate expectations...
Explain the Four-Phase Process of the analytical review process includ: 1) Phase one – formulate expectations (expectations) 2) Phase two – compare the expected value to the recorded amount (identification) 3) Phase three – investigate possible explanations for a difference between expected and recorded values (investigation) 4) Phase four – evaluate the impact of the differences between expectation and recorded amounts on the audit and the financial statements (evaluation). note: explain all process in detail.
Can two phases of a delta primary supply a three-phase open-delta service?
Can two phases of a delta primary supply a three-phase open-delta service?
Audit Strategy consists of 1- Audit Scope 2- Timing 3- Direction explain each phase
Audit Strategy consists of 1- Audit Scope 2- Timing 3- Direction explain each phase
Identify the phases of growth of microbial colonies and describe what happens in each phase
Identify the phases of growth of microbial colonies and describe what happens in each phase
one purpose of performing analytical procedure in the planning phase of an audit is to assess...
one purpose of performing analytical procedure in the planning phase of an audit is to assess the client's financial condition. Explain how the assessment of a client's financial condition can affect the auditor's decisions concerning evidence accumulation in later phases of the audit
The Data-based Problem Solver Model is divided into four different sequential phases. Put the correct number...
The Data-based Problem Solver Model is divided into four different sequential phases. Put the correct number (1-4) beside each phase below to indicate the proper order. (1 point each) Problem Analysis (PA) Problem Evaluation (PE) Problem Solution (PS) Problem Identification (PI)       -       1.       2.       3.       4.          Problem Evaluation (PE)       -       1.       2.       3.       4.         ...
A. List the four phases of mitosis and the major events that occur in each phase.   ...
A. List the four phases of mitosis and the major events that occur in each phase.          B. Name the two events in meiosis that are critical to zygote development.          C. List the steps for sperm entry into the oocyte.   
1a. Consider a compound with two solid phases, a low-pressure phase and a high-pressure phase(like carbon)....
1a. Consider a compound with two solid phases, a low-pressure phase and a high-pressure phase(like carbon). Sketch the phase diagram for this compound, assuming that both solid phases are denser than its liquid phase. Identify all the important components of the diagram. 1b.For each option below, choose the one with a higher vapor pressure. Explain your answer please. a)Methane vs Methanol. c) water at 20 degs C vs water at 80 degs C b) ocatane vs hexane d) 10 mL...
Identify the primary audit objectives for an accrued liability account such as Bankrate’s SEM accrual. What...
Identify the primary audit objectives for an accrued liability account such as Bankrate’s SEM accrual. What circumstances relevant to accrued liabilities can prove to be particularly challenging for auditors?
1.Define economic growth. 2,List the phases of the business cycle. 3.In which phase of the business...
1.Define economic growth. 2,List the phases of the business cycle. 3.In which phase of the business cycle is unemployment at its highest? Where in the business cycle is it the lowest? 4.In which phase of the business cycle is inflation a possible problem? 5.Give two definitions of recession. 6.A good that is produced but not sold is still counted in GDP using the expenditure approach to computing GDP. Do you agree or disagree with this statement? Explain your answer.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT