Page 13 - PowerPoint Presentation

GENERAL PRINCILES OF AUDITING

Internal Control In Smaller Entities (Continued…)

The information system

• More likely a very basic system such as Sage Online,

Pastel etc. overseen by an Accountant

• Risk of unauthorised transactions, inaccurate or

incomplete recording etc.

Control Activities

• Costly to implement effective security controls or extra

personnel to improve segregation of duties.

• Risk of performing incompatible functions

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