IT General Controls – NBC Institute

AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

Question

A regulatory review was conducted on SINAPE Microfinance Bank Limited in September 2018. During the course of the review, numerous findings and recommendations were made regarding the bank’s compliance with internal and external regulations, policies, and guidelines.

It was noted in the report that processing systems, internal controls over financial accounting, and financial reporting were inadequate. The review of the bank’s processes and transaction recognition procedures was unsatisfactory. Additionally, there were instances where management overrode controls in financial reporting processes.

The regulator required the bank to appoint a reputable firm of chartered accountants to perform a review of the internal control system and make a comprehensive recommendation. Your firm has been appointed by the bank to perform the internal control reviews, and a brainstorming forum has been arranged. You have been nominated to present at the forum.

Required:

a. Describe the principal methods available to record internal control systems. (6 Marks)

b. Identify and discuss categories of control activities. (6 Marks)

c. Explain general information technology controls and application controls. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Application Controls, Compliance Auditing, Control Methods, Internal Control Systems, IT General Controls
Level: Level 2

Topic: Internal Control Systems
Series: MAY 2021

MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

Question

IT controls are often described in TWO categories or types namely: IT general controls and which of the following controls?

A. System
B. Software
C. Hardware
D. Application
E. Program

Answer

Find Related Questions by Tags, levels, etc.

Tags: Application Controls, IT Controls, IT General Controls, Security Measures
Level: Level 1

Topic: Information Systems Development and Security
Series: MAY 2024

AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

Question

Required:

a. Describe the principal methods available to record internal control systems. (6 Marks)

b. Identify and discuss categories of control activities. (6 Marks)

c. Explain general information technology controls and application controls. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Application Controls, Compliance Auditing, Control Methods, Internal Control Systems, IT General Controls
Level: Level 2

Topic: Internal Control Systems
Series: MAY 2021

MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

Question

IT controls are often described in TWO categories or types namely: IT general controls and which of the following controls?

A. System
B. Software
C. Hardware
D. Application
E. Program

Answer

Find Related Questions by Tags, levels, etc.

Tags: Application Controls, IT Controls, IT General Controls, Security Measures
Level: Level 1

Topic: Information Systems Development and Security
Series: MAY 2024

Question Tag: IT General Controls

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AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

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Question Tag: IT General Controls

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AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

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MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

You're reporting an error for "MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security"

AA – May 2021 – L2 – Q4 – Internal Control Systems

Examination of methods to document internal controls, control activities, and types of IT controls.

You're reporting an error for "AA – May 2021 – L2 – Q4 – Internal Control Systems"

MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security

Differentiates between IT general controls and another category of IT controls.

You're reporting an error for "MI – May 2024 – L1 – SA – Q18 – Information Systems Development and Security"

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