Explain how general controls and application controls reduce information technology risks.

ASSIGNMENT

1. Describe the three primary objectives of effective internal control.
2. Contrast management’s responsibilities for maintaining internal control with the auditor’s responsibilities for evaluating and reporting on internal control.
3. Explain the five components of the COSO internal control framework.
4. Explain how general controls and application controls reduce information technology risks.
5. Identify types of information technology systems and their impact on internal controls.