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Accounting
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29 Nov 2019

What do you test when you test a control?

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Sixta Kovacek
Sixta KovacekLv2
17 Dec 2019
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Related questions

Would the following be (1) a test of control or substantive test oftransaction or (2) a test of details of balance.

1. Evaluate whether control risk can be assessed as low forpayroll
2. Design and perform payroll and personnel related analyticalprocedures.
Would the following be (1) a test of control or substantive test oftransaction or (2) a test of details of balance.

1. Evaluate tests of controls and substantive tests of transactionsresults
2. Design payroll and personnel cycle tests of controls andsubstantive tests of transactions
3. Assess inherent risk for payroll related accounts

let's use this thread to test your knowledge ondecentralization....

The CEO of a rapidly growing high-technology firm has centralizedauthority over all corporate functions. Because the company nowoperates in four geographically dispersed locations, the CEO isconsidering the advisability of decentralizing control overproduction and sales. Which of the following conditions will resultfrom and be a valid reason for decentralizing?

a) Greaterlocal control over compliance with government regulations

b) Moreefficient use of headquarters staff officials and specialists

c) Quicker andbetter operating decisions

d) Greatereconomies of purchasing

What do you think? Please share your thoughts.

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