F8

Card Set Information

Author:
jonochall
ID:
186096
Filename:
F8
Updated:
2012-11-29 14:47:27
Tags:
F8 Controls
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Description:
Control procedures
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  1. What are the 5 types of control activity according to ISA 315?
    P.A.P.I.S.

    • Performance review
    • Authorisation
    • Physical Controls
    • Information processing
    • Segregation of duties
  2. Possible list of contol procedures
    ACCA MAP

    • Authorisation
    • Comparison (eg to budget)
    • Computer controls
    • Arithmetical
    • Maintaining a TB and control accounts
    • Accounting Recs
    • Physical controls
  3. What 5 components make up Internal Control?
    • Environment (attitude to control)
    • Entity's risk assesment
    • Information system relevant to financial reporting
    • Control Procedures
    • Monitoring of controls

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