Video Review Assignment | It Controls - General vs Application Controls (PSP_DAT5B_Group 3)

-


 IT CONTROL: General VS Application Control


-General controls apply to all computerized applications and consist of a combination of hardware, software, and manual procedures that create an overall control environment. -Intan Sahira Uzma Binti Norizan (10DAT18F1116)

-Application controls are specific controls unique to each computerized application, such as payroll or order processing. -Muhamad Syahmi Bin Ibrahim (10DAT18F1041)

- IT control consist of general control and application control. IT infrastructure helps for people to able to access IT environment.The methods to access IT environment is security ID. People to log in and log on a website and the password & username is under the general controls. In passwords there are some rules that is to look the length, composition and rotation-changed then this all under monitoring controls. There are some types of systems which is HR system,Accounts system,Learning management system and Enrolments system. Under LMS system is logging on that is username and passwords. Under the accounting systems is A/R Clerk, A/R Management and Financial controller and this all under segregation of duties.This IT Control helps to prevent a misstatement and helps to detect from it we can correct the journals, makes debit equal with credit and set payment terms or discounts. -Lelothane A/P Mohan (10DAT18F1094)

-CIS Processing  – operational source of data, e.g transaction records, customer records, inventory records. Recording of transactions and records. Processing of such records. Producing documents such as invoices, receipts. Recording financial data. Reporting status of transactions and records.
CIS Processing – results of operations or administrative accounting in accordance with accounting policies and procedures. -NUR SYAHIRAH BINTI SUHAIMI (10DAT18F1018)

- Lack of physical documentation, source records for transactions (audit trail)
- Lack of evidence on supervisory check / verification processes
- Issues in storage and retrieval of transactional records
- Changes in processing, storage and communication of financial data.

Characteristics of CIS: SITI NURAISYAH BINTI MAD KHALID(10DAT18F1118)

-Lack of visible transaction trails
-Consistency of performance
-Ease of access to data and computer programme
-Concentration duties
-Systems generated transaction
-Vulnerability of data and program storage media

Comments

Post a Comment

Popular posts from this blog

CHAPTER 4: AUDITING IN CIS ENVIRONMENT (PSP_DAT5BJune2020)

-
Image
CHAPTER 4 : AUDITING IN COMPUTERISED INFORMATION SYSTEM ENVIRONMENT Group Members: 1.Muhammad Zaifan Hakim Bin Ramli (10DAT18F1084) 2.Nurfatin Nabila Bt Mawardi (10DAF18F1010) 3.Nur Fadhlin Bt Muhammad Fuzi (10DAT18F1022) 4.Nurdini Husna Bt Jamil Akhir (10DAT18F1024) 5.Nurul Hazniza Bt Kahar (10DAT18F1042) WHAT IS CIS? What is CIS? - System that composed people & computers that processes or interprets infomation. Objective of audit in CIS. - True and fairness of the financial statements Scope Of Audit under CIS Enviroment. - Legislations, regulations & the approved auditing standards Two categories in internal control 1) Application Control  -To ensure the completeness & accuracy of input Types of control - Data capture controls - Data validatio controls - Processing control  - Output control  - Error control 2) General control - develop, maintained & operated & how effective the operations of the programmed procedures Types of control  - Data centre & Network O
Read more

CHAPTER 2 : AUDIT EVIDENCE

-
Image
WELCOME TO OUR BLOG  ❝ BEING AN AUDITOR IS EASY. IT'S LIKE RIDING A BIKE, EXCEPT THE BIKE IS ON FIRE. YOU'RE ON FIRE. EVERYTHING IS ON FIRE !! ❞ 👧  NUR FARAHIN BINTI RAHMATHULLAH (10DAT17F2009) 👦  BALAMURGHAN A/L SARAVANABAVAN (10DAT17F2050) 👧  HARSHINNI A/P CHANDRAN (10DAT17F2013) OUR BLOG IS ABOUT AUDIT EVIDENCE ➽ AUDIT EVIDENCE DEFINITION ⇏ ➸The information obtained by the auditor in arriving at the conclusions on which the audit opinion in based. ➸ It comprise source documents and accounting records underlying the financial statements and corroborating information from other sources. ➸ Any information use by the auditor to determine whether the information being audited is stated in accordance with the established criteria. ISA 500   Information is used by the auditor in arriving at the conclusions on which the auditor's opinion is based. Audit evidence includes both information contained in the accounting records underlying the
Read more