IT Controls That the Auditor Might Expect to Find in the Cash

question 85

Multiple Choice

IT controls that the auditor might expect to find in the cash process are

• A)IT system restricts access to individuals authorized to adjust cash balances
• B)IT system restricts access to individuals authorized to input investment purchases and investment sales
• C)Trading and available-for-sale investments must have a broker's advice number to be entered into the accounting system
• D)Bank transfer report is generated daily (weekly or monthly)and is reviewed by an individual one level above the level making the transfer
• E)Held-to-maturity investments must have a face value,which includes the stated amount of the bond and the discount or premium on the bond
• F)both A and D
• G)both B and C
• H)both C and E

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Definitions:

Ex-

A prefix often denoting out of, from, or not having something.

Retro-

A prefix used in English, denoting backwardness, previousness, or action in a reverse direction.

Bradypnea

Abnormally slow breathing rate, which can be indicative of sleep states or medical conditions.

Premenstrual

Referring to the phase of a menstrual cycle immediately before menstruation begins, often associated with specific physical or emotional symptoms.