Describe Typical Financial Reporting Controls That Are of Particular Concern

question 6

Essay

Describe typical financial reporting controls that are of particular concern to most auditors with regard to the sales process.

---

Definitions:

Jam Signal

A special signal sent to network nodes alerting them that a data collision has occurred.

Peer-To-Peer

A decentralized network architecture where all the participants, or nodes, share part of their resources directly with each other, without going through a centralized server.

Node

A device connected to a network such as a computer, a peripheral (such as a printer), or a communications device (such as a modem).

Communicates Directly

The process where two systems or devices establish a connection without intermediary devices or services.