6.2-3 Control Activities

Question 1

(5) Common Control Activties

Answer 1

1. Audit trails
2. Personnel Polices
3. Segregation of Duties
4. Asset Protection
5. Operating Performance Review

Question 2

1. Audit Trails

Answer 2

Digital records of business transactions, showing before and after, which helps auditors determine who, what, when, why, and how financial transactions

Question 3

2. Personnel Policies

Answer 3

Clear policies outlining the use of tech assets, including how to deal with infractions

Question 4

3. Segregation of Duties

Answer 4

No single employee should be able to “hold” custody over the transactions they process

Question 5

4. Asset Protection

Answer 5

Control over access and protection over physical and digital

Question 6

5. Operating Performance Review

Answer 6

SOX and C-SOX have resulted in periodic internal audits