Control Testing – NBC Institute

AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

Question

Oboshie Audit Firm has been engaged to audit the financial statements of Abakah Manufacturing LTD for the year ended December 31, 2023. During the planning phase of the audit, the audit team identified that Abakah Manufacturing LTD relies heavily on its internal control system to ensure the accuracy and completeness of its financial reporting.

Required:
i) Explain TWO tests of control to be performed by Oboshie Audit Firm to evaluate the effectiveness of Abakah Manufacturing LTD’s internal controls over its financial reporting.

ii) Identify a method that should be used under each test of control in (i) above.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Approval of Transactions, Audit Procedures, Control Testing, Internal Controls, Risk Assessment, Segregation of Duties
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements
Series: Nov 2024

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

Question

Computer-Assisted Audit Techniques (CAATs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes.

Required:
Explain THREE (3) relevance of CAATs in evaluating audit evidence.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, CAATs, Control Testing, IT Audit
Level: Level 3

Topic: Audit evidence
Series: AUG 2022

AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

Question

Required:
i) Explain TWO tests of control to be performed by Oboshie Audit Firm to evaluate the effectiveness of Abakah Manufacturing LTD’s internal controls over its financial reporting.

ii) Identify a method that should be used under each test of control in (i) above.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Approval of Transactions, Audit Procedures, Control Testing, Internal Controls, Risk Assessment, Segregation of Duties
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements
Series: Nov 2024

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

Question

Computer-Assisted Audit Techniques (CAATs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes.

Required:
Explain THREE (3) relevance of CAATs in evaluating audit evidence.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, CAATs, Control Testing, IT Audit
Level: Level 3

Topic: Audit evidence
Series: AUG 2022

Question Tag: Control Testing

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AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

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AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

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AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

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AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls

Explain two tests of control and their corresponding methods of testing.

You're reporting an error for "AA – Nov 2024 – L2 – Q5a – Tests of Control and Methods for Testing Controls"

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

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