Week 6 - Controls Classification Recap Flashcards
1
Q
What are the three traditional ways controls can be classified as?
A
- preventative
- detective
- corrective
2
Q
Preventative
A
To prevent an error from occurring
3
Q
Detective
A
To identify an error which has occurred
4
Q
Corrective
A
To correct an error once it has been identified
5
Q
What is the other way of categorising internal controls?
A
SOAPSPAM
6
Q
What does SOAP stand for?
A
Segregation of duties
Organisational controls
Authorisation and approval
Physical controls
7
Q
What does SPAM stand for?
A
Supervision
Personnel
Arithmetical procedures
Management
8
Q
What do we call the testing of controls?
A
Compliance testing
