The application control highlighted in the Red Box is called Source Document Control. It requires users to select a pre-existing system document (e.g. purchase order / scheduling agreement) as basis or reference before creating an Incoming Invoice. Which audit assertion below does this type of control support?

• Validity

• Authenticity

• Completeness

• Accuracy

The application control highlighted in the Red Box is called Recalculate Control Total. It prompts an error and does not allow the user to proceed with the transaction if the Total Amount does not match with the sum of the individual amounts. Which assertion does this application control support?

• Validity

• Completeness

• Accuracy

• Authenticity

The application control highlighted in the Red Box is called Automatic Prenumbering. The system automatically creates the series number of the new document created. This application control is essential for the following except:

• Ensuring that documents are complete

• Avoiding unintentional skips in the sequence

• Ensuring the transaction amounts are accurate

• Selecting samples in a systematic random sampling

The application control highlighted in the Red Oval is called Park and Post. The following statements are correct in relation to the use of Park and Post except:

• Park and Post Controls are affected by Change Control Management

• Park and Post Controls are affected by Access Management

• Park and Post Controls are key controls to ensure the validity of transactions

• Park and Post Controls are controls to ensure proper cut-off in recognition of revenues and expenses

The application control that generates the error message displayed in the photo is called Check Digit. This control is essential to support that the transaction is:

• Valid

• Complete

• Accurate

• Reflects proper rights and obligations

The application control shown in the photo is called a Dropdown Button. Under which category does this specific control fall?

• Processing Controls

• Input Controls

• Output Controls

• IT General Controls

The highlighted digits signify the existence of a processing control. This control aims detect whether any changes have been made to the original data set or file. By performing certain calculations and comparing it to the highlighted digits, the system can determine whether any changes have been made. If the system calculation and the highlighted digits are same, it indicates that the data has not been modified during transit or storage. If they differ, it suggests that the data has been altered, either intentionally or accidentally. This control is called:

• Check digit

• Hash total

• Data matching

• Structured Query Language

The application control highlighted in the Red Oval is called ____ and important to ensure that information to be provided are _______.

• Mandatory Field; Accurate

• Mandatory Field; Complete

• Reasonableness Check; Accurate

• Reasonableness Check; Complete

The Output Control displayed in the photo is an audit trail called Transaction Log. In an audit, this system control is essential to check the following assertion:

• Authenticity

• Accuracy

• Completeness

• Validity

• All assertions mentioned

When conducting an IT Audit in support of the Financial Statements audit, the following controls relating to Change Management are important except:

• Ensuring the presence of independent verifications for implemented changes

• Assessment of business risks and impact by management prior to implementation

• Ensuring all system changes are tested in an environment separate from the production environment

• Ensuring all system changes have been properly budgeted