Sample content Resources: Ch. 11 & 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare written answers to the following assignments from Modern Auditing: Assurance Services and the Integrity of Financial Reporting: • Ch. 11: Learning Checks 11-6, 11-8, & 11-9 • Ch. 13: Learning Check 13-8 11-6. a. There are three strategies which an auditor could use while testing a system of internal controls which apply an information technology which includes: 1. Assessing control risk based on user controls. 2. Planning for a low control risk assessment based on application controls. 3. Planning for a high control risk assessment based on general controls and manual follow-up. b. The auditor might evaluate assess controls based on two of the three previously mentioned strategies, assuming that the evidence shows that the controls are efficiently designed and located for operation. Primarily, the auditor must analyze the control ri

1. ACC 491 Week 5 Individual Assignment Ch
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Sample content
Resources: Ch. 11 & 13 of Modern Auditing: Assurance Services and the
Integrity of Financial Reporting
Prepare written answers to the following assignments from Modern Auditing:
Assurance Services and the Integrity of Financial Reporting:

2. • Ch. 11: Learning Checks 11-6, 11-8, & 11-9
• Ch. 13: Learning Check 13-8
11-6. a. There are three strategies which an auditor could use while testing a
system of internal controls which apply an information technology which includes:
1. Assessing control risk based on user controls.
2. Planning for a low control risk assessment based on application controls.
3. Planning for a high control risk assessment based on general controls and
manual follow-up.
b. The auditor might evaluate assess controls based on two of the three
previously mentioned strategies, assuming that the evidence shows that the
controls are efficiently designed and located for operation. Primarily, the auditor
must analyze the control risk as labeled by user controls, for example, an effective
performance reviews by management. Second, the auditor must evaluate the
control risk as low based on possible while maintaining efficient computer
application controls. This strategy also involves efficient manual follow-up of
exception noted by application controls.
c. The auditor has the ability to control risks as high as possible based on
evidence collected through computer controls and manual follow up procedures.
The auditor could potentially establish implication which effect the operation of
application controls based on the inspection of inquiries from those that follow-up
on exception reports. Nevertheless, the auditor should complete control risks that
are below the high level.
11-8. The advantages of parallel simulation include the following:
• Because real data are used, the auditor can verify the transactions by tracing
them to source documents and approvals.
• The size of the sample can be greatly ex
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