Individual Assignment Controls for IT and Reporting & Evaluation
Imagineyou are a controller for a company.
Identifythe internal control reporting options.
Createcriteria against which the options can be evaluated.
Include internal controls for IT.
Use this Appendix to help guide you on what I expect to see from your assignment. The best way to tackle this assignment is to choose one specific area in accounting to focus on. Example:Payroll
Requirements:
There should be an Overview paragraph and a Summary paragraph explaining the procedures for the specific concentrated area that you choose to provide a table on.
It can be based on a real or fiction company. I will be grading on the how you would write a Policy and Procedures for a specific concentrated area thatcompiles the seven controls:
1. Control activities
2. Control framework
3. Test plan for testing the control
4. Test of operating effectiveness
5. Test of design
6. COSO framework components involved
7. Attributes of financial statement assertions
Depending on which specific concentrated area you decide to work on, not all these controls may apply.Let me know if you have any more questions.