acca全新課程1f階段網(wǎng)課講義aa a4internal control

DefinitionInternalcontroldescribesthe designed,implementedandmaintainedbythosechargedwith ernance,managementand neltoprovidethemwithreasonableassurancethatanentitywillachieveitsobjectiveswithregardtoThereliabilityoffinancialreporting(internalandTheeffectivenessandefficiencyofoperationsCompliancewithapplicablelawsandTestWhois yresponsiblefor 'ssystemofinternalExternalBoardofInternalAuditComponentsofaninternalcontrolsystem‘Setsthetone’bycreatingaAttitudes,awarenessandactionsofTheentity’sriskassessmentprocessHowmanagementidentifiesrisksanddecidesuponactionstomanagethemTheinformationConsistsofinfrastructure,software,people,proceduresanddataThepoliciesandproceduresthathelpensurethatmanagementdirectivesarecarriedoutMonitoringofAssessthedesignandoperationofcontrolsoverOngoingmonitoringispartofregularmanagementControlactivitiesISA315IdentifyingandAssessingtheRisksofMaterialMisstatementthroughUnderstandingtheEntityandItsEnvironmentrequiresauditorstoobtainanunderstandingofcontrolactivitiesrelevanttotheaudit.Controlactivitiesarethepoliciesandproceduresthathelpensurethatmanagementdirectivesarecarriedout;andwhicharedesignedtopreventanddetectfraudanderroroccurring.AnexampleofacontrolactivityisthemaintenanceofacontrolApartfrommaintenanceofacontrolaccount, in mayundertaketopreventandfraudandSegregationofduties–assignmentofroles/responsibilitiestodifferentpeople,therebyreducingtheriskoffraudanderrorAuthorisation–approvaloftransactionsbyasuitablyresponsibleofficialtoensuretransactionsaregenuine.Accountreconciliations–comparisonofanaccountbalancewithanothersource;oftenthissourceisfromathirdparty,suchasthebank,withdifferencesbeinginvestigated.Arithmeticalcontrols–controlswhichcheckthearithmeticalaccuracyofaccountingrecords.Informationprocessing–computercontrolsincludinggeneralITcontrols,whichcoverarangeofapplicationsandsupporttheoverallITenvironmentandapplicationcontrolswhicharemanualorautomatedcontrolswhichoperateonabusinessprocesslevel.Physicalcontrols–restrictingaccesstophysicalassetssuchascash,inventoryand ntandequipment,therebyreducingtheriskoftheft.Performancereviews–reviewoftheperformanceofthebusinessbylookingatareassuchasbudgetvactualresults.ControlactivitiesTestWhichofthefollowingispartofthecontrolenvironmentcomponentwithinaninternalcontrolsystem?Theattitude,actionsandawarenessof alwithinan ernanceandmanagementSegregationofTestWhichofthefollowingisatypeofcontrolactivitywithinaninternalcontrolsystem?InformationInformationRiskTest-pilotISA315IdentifyingandAssessingtheRisksofMaterialMisstatementthroughUnderstandingtheEntityandItsEnvironmentsetsoutthefivecomponentsofinternalcontrol.WhichofthefollowingisNOTsetoutasacomponentofinternalcontrolwithinISA315?ControlTheinformationsystemrelevanttofinancialHumanresourcepoliciesandComputercontrolComputercontrolThecontrolswhichtheauditorwouldexpecttofindcanbeconsideredintwocategories:GeneralApplicationGeneralcontrolGeneralcontrolsarepoliciesandproceduresthatrelatetomanyapplicationsandsupporttheeffectivefunctioningofapplicationcontrolsbyhel toensurethe operationofinformationsystems.GeneralcontrolGeneralDevelopmentofcomputerapplicationsStandardsoversystemsdesign,programmingandationSegregationofdutiessothatthoseresponsiblefordesignarenotresponsiblefortestingTrainingofstaffinnewproceduresandavailabilityofadequateationGeneralcontrolGeneralPreventionordetectionofunauthorisedchangestoprogramsFullrecordsofprogramPasswordprotectionofprogramssothataccessislimitedtocomputeroperationsstaffRestrictedaccesstocentralcomputerbylocked checksonsoftware:useofanti-software prohibitinguseofnon-authorisedprogramsorBack-upcopiesofprogramsbeingtakenandstoredinotherlocationsStrictercontrolsovercertainprograms(utilityprograms)byuseofread-onlymemoryApprovalofchangesbycomputerusersandGeneralcontrolGeneralControlstopreventamendmentstodataPasswordAccessrestrictedtoauthorisedusersControlstoensurecontinuityofProtectionofequipmentagainstfireandotherBack-uppowerDisasterrecoveryprocedurese.g.availabilityofback-upcomputerfacilities.MaintenanceagreementsandApplicationcontrolsApplicationcontrolsensurethatalltransactionsareauthorisedandrecorded,andareprocessedcomple yandonatimelybasis.Applicationcontrolsincludethefollowing:Identifyandex inFOURapplicationcontrolsthatshouldbeadoptedbyFoxIndustriesCotoensurethecompletenessandaccuracyoftheinputofpurchase s.(4marks)Applicationcontrols counts–thenumberof stobeinputarecounted, sarethenenteredonebyone,attheendthenumberofsinputischeckedagainstthe count.Thishelpstoensurecompletenessofinput.Controltotals–herethetotalofallthe s,suchasthegrossvalue,ismanuallycalculated.The sareinput,thesystemaggregatesthetotaloftheinput s’grossvalueandthisiscomparedtothecontroltotal.Thishelpstoensurecompletenessandaccuracyofinput.Oneforonechecking–the senteredintothesystemaremanuallyagreedbackonebyonetotheoriginalpurchase Thishelpstoensurecompletenessandaccuracyofinput.Rangechecks–apre-determined umisinputintothesystemforgross value,forexample,$10,000;whensareinputiftheamountkeyedinisincorrectlyenteredasbeingabove$10,000,thesystemwillrejectthe .Thishelpstoensureaccuracyofinput.Existencechecks–thesystemissetupsothatcertainkeydatamustbeentered,suchas rname,otherwisethe rejected.Thishelpstoensureaccuracyofinput.TestGeneralcontrolsarepoliciesandproceduresthatrelatetomanyapplicationsandsupporttheeffectivefunctioningofapplicationcontrolsbyhel ensurethe properoperationofinformationsystems.WhichTWOofthefollowingaregeneralRegularbackupofAuthorisationfortheacquisitionofnewSequenceException1and1and2and3andTestApplicationcontrolsrelatetoproceduresusedtoinitiate,record,processandreporttransactionsandotherfinancialdata.WhichtwoofthefollowingareapplicationRecordsofprogramBatchTestGeneralITcontrolsarepoliciesandproceduresthatrelatetomanyapplicationsandsupporttheeffectivefunctioningofapplicationcontrols.WhichtwoofthefollowingaregeneralITcontrols?TestingproceduresusingtestOneforoneDisasterrecoveryHashTestWhichofthefollowingcontrolswouldbedesignedtoensureaccuracyoverinputofdata?ArangeAsequencePasswordPilotApplicationcontrolsaremanualorautomatedproceduresthatoperateoveraccountingapplicationstoensurethatalltransactionsarecompleteandWhichTWOofthefollowingareapplicationPasswordprotectionofBatchOneforoneRegularbackupof1and3and1and2andObtaininganunderstandingoftheentity’sinternalcontrols檢查文件資料，例如檢查銷售單、發(fā)運憑證、客戶 即追蹤銷售從發(fā)生到最終被反映在財務報表中的整個處理過程。例如：選取一筆已收款的銷售，追蹤該筆從接受客戶訂購單直至收回貨款的整個過程Methodsfor ingtheinternalcontrolsDescribeTWOmethodsfor ingthesalessystem,andforeachex inONEadvantageandONEdisadvantageofusingthismethod.(6marks)NarrativeFlowNarrativenotesNarrativenotesconsistofawrittendescriptionofthesystem;theywoulddetailwhatoccursinthesystemateachstageandwouldincludeanycontrolswhichoperateateachstage.AdvantagesofthismethodpTheyaresimpletorecord;afterdiscussionwithstaffmembers,thesediscussionsareeasilywrittenupasnotes.pTheycanfacilitateunderstandingbyallmembersoftheauditteam,especiallymorejuniormemberswhomightfindalternativemethodstoocomplex.Disadvantagesofthismethod Narrativenotesmayprovetobetoocumbersome,especiallyifthesystemiscomplexorheavilyautomated. Thismethodcanmakeitmoredifficulttoidentifymissinginternalcontrolsasthenotesrecordthedetailbutdonotidentifycontrolexceptionsclearly.FlowchartsFlowchartsareagraphicillustrationoftheinternalcontrolsystemfortheXXsystem.LinesusuallydemonstratethesequenceofeventsandstandardsymbolsareusedtosignifycontrolsorAdvantagesofthismethod Itiseasytoviewthesysteminitsentiretyasitisallpresentedtogetherinonediagram. Duetotheuseofstandardsymbolsforcontrols,itcanbeeffectiveinidentifyingmissingcontrols.Disadvantagesofthismethod Theycansometimesbedifficulttoamend,asanyamendmentsmayrequirethewholeflowcharttoberedrawn. Thereisstilltheneedfornarrativenotestopanytheflowchartandhenceitcanbeatime-consumingmethod.QuestionnairesInternalcontrolquestionnaires(ICQs)orinternalcontrolevaluationquestionnaires(ICEQs)containalistofquestions; areusedtoassesswhethercontrolsexistwhereaseffectivenessofthecontrols Advantagesofthismethod

assess Questionnairesarequicktoprepare,whichmeanstheyareatimelymethodforrecordingthesystem.Disadvantagesofthismethod Itcanbeeasyforthestaffmemberstooverstatethelevelofthecontrolspresentastheyareaskedaseriesofquestionsrelatingtopotentialcontrols. Astandardlistofquestionsmaymissoutunusualormorebespokecontrolsusedbythe Dec2014Q9WhichofthefollowingisaDISADVANTAGEofrecordingaccountingandcontrolsystemsusinginternalcontrolquestionnaires?TheymaycontainalargenumberofirrelevantItcanbedifficulttoidentifymissingTheyaretimeconsumingtoInternalcontrolquestionnairesInternalcontrolquestionnaires(ICQs)compriseaseriesofquestionsoneachkeytransactioncycle(sales,purchasesetc)whichseektodeterminewhetheracontrolexists.‘Isabankreconciliationperformedeachmonth?’Yes/No/ICQsidentifywhereinternalcontrolsexist,arequicktoprepareandcanbecompletedbyjuniorstaff.Theycan,however,giveadistortedviewoftheentity’sinternalcontrolsasthereisnoweightingofmoreimportantcontrols.Theymaynotberelevanttounusualsystems.InternalcontrolevaluationquestionnairesAquestionnairelistingcontrolobjectives,thatrequiresthe inhowtheymeeteachobjective.Istherereasonableassurancethat‘Goodscannotbereceivedwithoutanassociatedliabilitybeingrecordedintheaccountingrecords?’“Yes,becauseasequentiallynumbered,multi-partgoodsreceivednoteisgenerateduponreceiptofthegoodsandonecopypassedtotheaccountsdepartment.Thisisthenfiledwhilstwewaitforthe .Thisfileisthenreviewedattheendofeachmonthandanaccrualmadeforanygoodsreceivedwhichhavenotyetbeen YourfirmhasauditedXXforanumberofyearsandassuch,auditationisavailablefromthepreviousyear’sfile,includinginternalcontrolflowchartsanddetailedpurchasesandpayablessystemnotes.Asfarasyouareaware,XX’ssystemofinternalcontrolhasnotchangedinthelastyear.Theauditmanageriskeenfortheteamtoutiliseexistingsystems ationinordertoensu