Assurance topic - ANSWERSThe topic covered by this assurance engagement is the SAP ERP Financial Accounting FI Module
Business Impact and Risk - ANSWERSSAP is widely used in many enterprises. Improper configuration of SAP could result in an inability for the enterprise to execute its critical pr...
SAP Financial Accounting Questions &
Answers
Assurance topic - ANSWERSThe topic covered by this assurance engagement is the
SAP ERP Financial Accounting FI Module
Business Impact and Risk - ANSWERSSAP is widely used in many enterprises.
Improper configuration of SAP could result in an inability for the enterprise to execute its
critical processes
Risk resulting from ineffective or incorrect configurations or use of SAP could result in
some of the following: - ANSWERS· Disclosure of privileged information
· Single points of failure
· Low data quality
· Loss of physical assets
· Loss of intellectual property
· Loss of competitive advantage
· Loss of customer confidence
· Violation of regulatory requirements
Goal of Review - ANSWERSThe objective of the SAP ERP audit/assurance review is to
provide management with an independent assessment relating to the effectiveness of
configuration and security of the enterprise's SAP ERP architecture.
From a process reference model (PRM) perspective, the following domains and
processes apply to this audit and assurance programme: - ANSWERS· BAI02 Manage
requirements definition
· BAI03 Manage solution identification and build
· DSS01 Manage operations
· DSS05 Manage security services
· DSS06 Manage business process controls
, This document is related to - ANSWERSISACA
Phase A of test - ANSWERSDetermine Scope of the Assurance Initiative
Phase B - ANSWERSunderstand enablers, setting suitable assessment criteria and
perform the assessment metrics
Phase C - ANSWERSCommunicate the results of the assessment
This required reading also includes an Financial Accounting (SAP FI) ICQ -
ANSWERStrue
1 General Ledger - ANSWERS1.1 Changes made to master data are valid, complete,
accurate and timely.
1.2 Master data remain current and pertinent.
1.3 GL postings are valid, complete, accurate and timely
1.4 All transactions and events that should be recorded are recorded in the correct
accounting period.
1.5 Changes in business and accounting principles do not affect the general ledger
(GL).
1.1 Changes made to master data are valid, complete, accurate and timely. -
ANSWERS1.1.1 Are reports of changes to master data compared to authorized source
documents and/or a manual log of requested changes to ensure they were input
accurately and on a timely basis?
1.1.2 Does the enterprise review policy and process design specifications regarding
access to maintain master data?
1.1.3 Do the configurable control settings address the risk pertaining to the validity,
completeness and accuracy of master data and ensure that they have been set in
accordance with management intentions?
1.2 Master Data remains current and pertinent - ANSWERS1.2.1 Does the appropriate
management report display or produce a list of master data records and confirm
evidence of management's review of the master data on a rotating basis?
1.3 GL postings are valid, complete, accurate and timely - ANSWERS1.3.1 Is the ability
to record and change GL postings restricted to authorized personnel?
1.3.2 Is the field status (as H, D, R and O) maintained at line item level for a GL
document before posting the document?
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