Control Activities (Ref: Para. 26) Controls in the control activities component   Appendix 3 , Paragraphs 20 and 21 set out further considerations relating to control activities. …

The control activities component includes controls that are designed to ensure the proper application of policies (which are also controls) in all the other components of the entity’s system of internal control, and includes both direct and indirect …

The auditor’s identification and evaluation of controls in the control activities component is focused on information processing controls, which are controls applied during the processing of information in the entity’s information system that directly …

There may also be direct controls that exist in the control environment, the entity’s risk assessment process or the entity’s process to monitor the system of internal control, which may be identified in accordance with paragraph 26 . However, the more …

Paragraph 26 also requires the auditor to identify and evaluate general IT controls for IT applications and other aspects of the IT environment that the auditor has determined to be subject to risks arising from the use of IT, because general IT controls …

The controls that the auditor is required to identify and evaluate the design, and determine the implementation of, in accordance with paragraph 26 are those: Controls which the auditor plans to test the operating effectiveness of in determining the …

Controls in the control activities component are required to be identified when such controls meet one or more of the criteria included in paragraph 26(a). However, when multiple controls each achieve the same objective, it is unnecessary to identify each …

Types of controls in the control activities component (Ref: Para. 26) …

Examples of controls in the control activities component include authorisations and approvals, reconciliations, verifications (such as edit and validation checks or automated calculations), segregation of duties, and physical or logical controls, …

Controls in the control activities component may also include controls established by management that address risks of material misstatement related to disclosures not being prepared in accordance with the applicable financial reporting framework. Such …