F8

What are the 5 types of control activity according to ISA 315?
P.A.P.I.S.
- Performance review
- Authorisation
- Physical Controls
- Information processing
- Segregation of duties
Possible list of contol procedures
ACCA MAP
- Authorisation
- Comparison (eg to budget)
- Computer controls
- Arithmetical
- Maintaining a TB and control accounts
- Accounting Recs
- Physical controls
What 5 components make up Internal Control?
- Environment (attitude to control)
- Entity's risk assesment
- Information system relevant to financial reporting
- Control Procedures
- Monitoring of controls

Author

jonochall

ID

186096

Card Set

F8

Description

Control procedures

Updated

2012-11-29T19:47:27Z

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