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What are the 5 types of control activity according to ISA 315?
- Performance review
- Physical Controls
- Information processing
- Segregation of duties
Possible list of contol procedures
- Comparison (eg to budget)
- Computer controls
- Maintaining a TB and control accounts
- Accounting Recs
- Physical controls
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