pwc- Financial Reporting.doc

Control Objectives
Example Control Activities
Info. Processing Objectives (CAVR)
PCAOB Assertions
Automated or Manual control 1
Financial Reporting – G/L Maintenance Activity
Changes to the chart of accounts are pletely and accurately.
There is a one-to-one check of the changes entered into paring all critical fields of information from a post input/update report to the source documents. Any discrepancies are identified and re-entered. The check occurs again for re-entered data. An independent individual who is not involved with preparing or processing the changes performs the check.
Completeness,
Accuracy
Completeness,
Valuation or Allocation
Manual
 
The system will not allow changes outside certain parameters (., the system will not allow duplicate account numbers, will only allow liability accounts to be created with a certain range of account numbers etc). If an entry is made outside of the parameter, an error message will be displayed.
Validity
Existence/Occurrence, Valuation or Allocation
Automated
The chart of accounts plete and accurate.
Management to pliance with chart of accounts performs a periodic review of the GL. Any discrepancies are identified and re-entered.
Completeness,
Accuracy
Completeness,
Valuation or Allocation,
Presentation & Disclosure
Manual
 
pletes an annual review of the chart of accounts for appropriateness. Change