Accounting Stuff

Completeness All transactions that occur are entered and accepted for processing once and only once. Accuracy Transactions are recorded at the correct amount in the appropriate account and proper period. Validity Only authorized transactions that actually occurred and that relates to the organization are recorded. Restricted Access Data is protected against unauthorized amendments and access to confidential data and physical assets is appropriately restricted to authorized personnel.

Any sequence of transactions that takes place in order to get work done and achieve the business' objectives

A group of transactions for which specific accounting procedures and controls are established by an entity’s management.

In the context of a sub-process, a manual or automated event that changes the data held or its state, either by adding or changing information held, or by applying a control or judgment over the data.

Information Processing Objective Financial Statement Assertion Completeness Completeness, Existence/Occurrence Accuracy Valuation/Allocation Validity Existence/Occurrence, Rights & Obligations Restricted Access Most, except for Rights & Obligations

A walkthrough is the process of tracing a single transaction through a process from beginning to end.
Includes:Inquiry ObservationExaminationReperformance

Includes:Inquiry ObservationExaminationReperformance
–The process flow, including major inputs, outputs and the way transactions are initiated, authorized, recorded, processed and reported; –The design of controls –The completeness of the sub-process, by determining whether all points in the process have been identified where material misstatements related to each relevant financial statement assertion could occur; –Possible types of transactions; –Impact of related party transactions, if any; and –The impact of use of service organizations, if any.

Open endedClosed endedHypothetical

Attacking Diverting (change subject)Declining to answerGiving equivocal answers (dance around)

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Change management is a structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state. It is an organizational process aimed at empowering employees to accept and embrace changes in their current business environment.

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