A computer-based information system is expected to have general IT controls in place. Discuss the main categories of general IT controls that are expected to be found in a computer-based information system by an auditor.
Wise Limited has an online platform for purchase and sale of goods and services which connects customers all around the world. It provides additional services of invoicing and data collation for sellers on the platform. Sellers process sales orders and transport the orders to the customers. Payment is made through the platform directly to the seller for which Wise limited collects a fee for invoicing services
Further to the requirement of the Code of Corporate Governance Wise limited has decided to change its auditors after a period of 10 years. Your firm was approached and due process followed in the appointment of new Auditors including appropriate professional clearance. The audit is now set to commence.
You are the Audit Manager responsible for this engagement but some of your Team members are not conversant with controls in on-line businesses.
b. A computer-based information system is expected to have general IT controls in place. Discuss the main categories of general IT controls that are expected to be found in a computer-based information system by an auditor.
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