6 - Application Controls, Masterfiles & ITGC Flashcards
1
Q
input controls examples?
A
- validity check (reconcile against masterfile)
- limit checks
- reasonableness check
- format checks
2
Q
types of processing?
A
- batch entry AND processing (both later)
- online entry and batch processing
- online entry, real-time processing
3
Q
processing controls examples?
A
- sequence test
- limit test
- matching
- reasonability
4
Q
validity objectives for masterfiles?
A
- only valid amendments made
- only auth. people are able to make changes
- fictitious, unapproved changes could be processed due to staff not involved in the amendment process making changes
5
Q
accuracy risks in masterfiles?
A
- details are not recorded correctly (capturing errors)
- person capturing could be incompetent, untrained
6
Q
completeness risks in masterfiles?
A
all amendments are not captured and processed because MAF is lost
7
Q
overall controls for masterfile amendments?
A
- duty segregation
- restrict physical access
- reconciliation of input to output
- keep a back-up
- audit trails
- exception reports
8
Q
control environment consists of?
A
- comm/enforcement of ethical values in IT env
- mgmt philosophy / operating style
- assigning auth/resp
- commit to competence
9
Q
systems dev/impl controls?
A
- change requests approved by IT manager
- changes to system must be made by programmers not users
- IT manager to review changes once made
10
Q
access controls examples?
A
- cctv
- passwords, IDs, biometric scans
- physical restrictions
11
Q
continuity of operations controls?
A
- physical security to protect computer system from damage, theft
- disaster recovery such as back-ups
12
Q
documentation?
A
- document all IT processes and controls in detail
- restrict important documents to only be used by authorized people
13
Q
what are application controls?
A
controls within any application the org uses to ensure the VAC of the processing and recording of transactions in that application
