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Question 1:
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) updated its
Internal Control — Integrated Framework in 2013 outlining the five components of internal
controls that are required under the Sarbanes-Oxley Act’s Section 404 provisions. List and
explain those components. (35 marks)
Question 2:
a. Define and explain the term internal control in the context of Audit and Assurance. (10
marks)
b. The use of IT (information technology) affects the way transactions are initiated,
authorized, recorded, processed and reported. Discuss the potential Benefits and Risks to
an Entity’s Internal Control from IT use. (25 marks)
Question 3:
In the context of audit evidence, explain what Audit documentation is (objectives and content)
and give specific examples. (30 marks)As John Moffat previously advised you “Please do not simply type out a full question and expect to be provided with a full answer. You must have an answer in the same book in which you found the question, so ask about whatever it is you are not clear about and I will explain.”
These look like homework or classwork assignments unrelated to the ACCA qualification – Q1 is not examinable and Q2/Q3 are not of a style or standard that would be found in AA or AAA – and OpenTuition does not offer to write answers to assignments.
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