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Automated control auditing is the examination of a company's various financial processing systems to ensure they support the completeness, accuracy, and integrity of data transactions. Application controls are controls that ensure the full and correct input, processing and output of data transmission. During this course you learn about the various system edits, validations, balancing procedures, and alerting controls that can be implemented to prevent data processing errors and even fraud. We discuss automated controls to support data integrity, data validity, as well as transactional controls to support rights and obligations and existence and occurrence.

The objectives of application controls, which may be manual or programmed, are to ensure the completeness and accuracy of the records and the validity of the entries made therein. Application controls pertain to individual business processes or application systems, including data edits, separation of business functions, balancing of processing totals, transaction logging, and error reporting. This course has been developed to provide the advanced skills necessary to conduct audits of automated controls with precision and efficiency.

We walk through audit processes and procedures to ensure financial transactional control are in place and working as expected. Additionally, we will define segregation of duties that can be implemented to ensure the controls cannot be easily bypassed. Lastly, we will explore the value of automating financial controls.

Course Key Concepts: Automated controls, edits, validations, data integrity, audit, Sarbanes Oxley.

Learning Objectives
  • Explore and examine how automated controls can be utilized to support data integrity.
  • Recognize practical application of automated controls.
  • Recognize the difference between data edits, data validations, balancing edits and error reporting.
  • Identify key segregation of duties required to support automated financial controls.
Last updated/reviewed: August 8, 2023

Included In Certifications

This course is included in the following Certification Programs:

10 CoursesInformation Technology Auditor Certification

  1. Understanding Information Technology Governance and the Application of NIST
  2. Performing a Security Risk Assessment
  3. Auditing Data Security IT Computer Controls
  4. Auditing Third Party Service Providers and Cloud Environments
  5. Auditing Automated Business and Financial Transaction Processes
  6. Auditing Logical Security and Logical Access Controls
  7. Auditing Change Management
  8. Auditing the Network
  9. The Importance of Incident Response, Disaster Recovery and Business Continuity Planning
  10. Information Technology Audit Summary
1 Review (8 ratings)

Reviews

4
Anonymous Author
the use of examples is invaluable in explaining the concepts. While we currently look at SOD in our audit programs where applicable, we have not traditionally checked to see if management was reviewing annually; that was helpful.

Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Auditing Automated Business and Financial Transaction Processes1:46
  Defining Automated Controls-Application Controls13:37
  Auditing Data Edits-Types of Data Edits7:45
  Auditing Data Edits-Types in Detail13:46
  Data Validation6:48
  Auditing Balance Edits and Error Reporting Controls6:32
  Auditing Segregation of Duties8:00
  Workpaper Documentation4:24
CONTINUOUS PLAY
  Auditing Automated Business and Financial Transaction Processes1:02:38
SUPPORTING MATERIAL
  Slides: Auditing Automated Business and Financial Transaction ProcessesPDF
  Auditing Automated Business and Financial Transaction Processes Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam