2nd October 2019


What are the general controls?

IT general controls (ITGC) are controls that apply to all systems, components, processes, and data for a given organization or information technology (IT) environment. System and data backup and recovery controls.

Just so, what is the difference between inherent risk and control risk?

: What is the difference between control risk and inherent risk? Inherent risk is probability of material misstatement, under the assumption of no internal control whereas control risk is the probability that material misstatement will not be detected or prevented on a timely basis by internal control.

What is an inherent risk assessment?

Inherent risk is one factor, along with control risk, that an auditor uses to assess the risk of material misstatement associated with a particular financial statement line item or audit area. Usually, an auditor assesses each audit area as either low, medium or high in inherent risk.

What are the application controls?

Application control is a security practice that blocks or restricts unauthorized applications from executing in ways that put data at risk. Application control includes completeness and validity checks, identification, authentication, authorization, input controls, and forensic controls, among others.
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