Started on Thursday, 5 September 2024, 7:17 PM
State Finished
Completed on Thursday, 5 September 2024, 7:37 PM
Time taken 20 mins 12 secs
Marks 28/30
Grade 93 out of 100
Question 1
Complete
Mark 2 out of 2
A company requires assistance with the program checks that will ensure compliance with the requirement below to ensure the accuracy and
completeness of the online input of sales invoice data. The requirement is:
The VAT number of the company’s client should be shown on all the company’s tax invoices.
Which ONE of the following alternatives is the program check that will ensure compliance with this requirement?
The company has very good internal control, which addresses and is based on the generally accepted components of internal control,
namely:
* the control environment
* the risk assessment process
* the information system - relevant to financial reporting
* control activities
* monitoring of controls
The following piece of information relates to the revenue and receipts cycle:
The credit controller, sales director and operations director meet once a month to discuss issues or problems, which may have developed with
the company’s products, markets or customers, and how they should be addressed.
Identify the component of internal control to which the above information relates:
Select one:
a. The information system
b. The risk assessment process
c. Control activities
d. The control environment
Question 3
Complete
Mark 2 out of 2
The company has very good internal control, which addresses and is based on the generally accepted components of internal control,
namely:
* the control environment
* the risk assessment process
* the information system - relevant to financial reporting
* control activities
* monitoring of controls
The following piece of information relates to the revenue and receipts cycle:
The company has an effective defined programme for developing and promoting employees.
Identify the component of internal control to which the above information relates:
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