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Which Viewpoint Was Not Considered in the Development of the SOMPA

question 49

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Which viewpoint was not considered in the development of the SOMPA?


Definitions:

Bank Statement Adjustment

The process of modifying the balance on a bank statement to reflect transactions that have not been recorded by the bank by the end of the reporting period.

Company Books Adjustment

The process of altering entries in the accounting records to reflect more accurate figures or to record unrecorded transactions.

Control Environment

A collection of guidelines, procedures, and frameworks that establish the foundation for executing internal control throughout the organization.

Risk Assessment

The process of identifying, analyzing, and evaluating risks involved in a specific situation or for a project.

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