Internal Controls & Risk Management
audit the financial statements of the Sky-is-the-Limit company. The company has
its own IT installation. While obtaining an understanding of internal control,
Smith found that Sky-is-the-Limit lacked proper segregation of the programming
and operating functions. Smith analyzed the internal control surrounding the
system to ensure that the corporate governance was being maintained, and he concluded
that the existing compensating general control activities provided reasonable
assurance that the objectives of internal control were being met.
Prepare a letter addressed to the board of directors that
discusses the following:
1. How is the separation of the programming and operating
functions accomplished in a properly functioning IT environment?
2. Explain the 3 subdivisions of information systems
management, and discuss how they apply to this situation.
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