Revenue Process
Purchasing Process
Payroll Process
GHG Process
Extra Points
100

What key control helps prevent premature or ficticious revenue by requiring that recognition occurs only after confirmed delivery

System-Enforced Revenue Recognition Based on Fulfillment Confirmation Control

100

What were the 2 techniques used to test the purchasing process controls?

Inspection - 50 marks

Observation - 50 marks

100

Which of the following controls involves the testing technique of reperformance

1. Segregation of Duties in the Payroll Process 

2. Formal Pre-Payroll Attendance Reconciliation

3.  System-Enforced Payroll Adjustment Approval Workflow

3. System-Enforced Payroll Adjustment Approval Workflow

This control involves recalculating the adjustments and comparing them to the payroll system amounts

100

Out of these 3 which one did we determine was a key control:

Standardized Data Entry Templates

Quarterly Review Meetings 

Centralized Electronic Filing System

Standardized Data Entry Templates

100

Where did Prof. Vitalis go to for Undergrad?

University of San Diego

200

These system elements such as flags or override logs are reviewed by the auditor to test automated price validations.

ERP System Settings, Audit Records, System Flags

200

What was the Automated Key Control tested for the purchasing process?

Automated Budget Validation at the Requisition Stage.

200

For the following control why are we testing only 3 samples? 

Control: Formal Pre-Payroll Attendance Reconciliation

1. Weekly Control

2. Biweekly Control

3. Daily Control

4. Monthly Control

2. Biweekly Control

200

How many samples did we want to take for Segregation of Responsibilities in the GHG Reporting Chain?

50

200

What is the name of Prof. Vitalis' Research Article Published on August 1st 2023 with the Contemporary Accounting Research Journal?

How does depletion interact with auditors' skeptical dispositions to affect auditors' challenging of managers in negotiations?