Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. service organizations need to have their controls

Service organizations need to have their controls reviewed by auditors. For example, service organizations that...

70.2K

Verified Solution

Question

Accounting

image

Service organizations need to have their controls reviewed by auditors. For example, service organizations that provide data processing services to various clients need to have their controls reviewed by auditors so that the client's auditors can satisfy themselves that control is being adequately maintained relative to the processing of client data by an external source. CONCEPT REVIEW: Often service organizations have their auditors, called service auditors, study their systems of internal control and issue a service auditor's report. Use your cursor to match each definition to its key term. Type 1 Report A report that documents a service organization's controls and documents their suitability and effectiveness Type 2 Report Auditors selected by a service organization to assess systems Service Organization A report that documents a service organization's controls and documents their suitability Service Auditors Perform data processing/computer/IT services, like payroll processing, for various clients

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students