Testing & Evaluating Control Design
This is the term for the audit procedure where an auditor physically examines records, documents, or assets related to each step of a control.
What is inspection?
This type of audit evidence stands for 'Information Used in the Control,' and its accuracy and completeness must be evaluated early in testing because it directly affects whether the related control can be considered effective.
What is IUC?
When documenting the design of a control, auditors must capture five specific elements — who performs the activity, what they perform, where data comes from, and how it's performed. This is the fifth element.
What is how often they perform it (frequency)?
Though IUC can be associated to a specific control in Omnia, it may also be documented in this location within the platform.
What is the Information Library?
Auditors evaluating a control that identifies and explains fluctuations — but is not designed to detect misstatements when no fluctuations exist — would flag a concern under this specific design evaluation factor.
What is Design Factor #1: Appropriateness of the Purpose of the Control and Its Correlation to the Risk/Assertion and/or RAIT?