Explain how general controls impact transaction integrity and the financial reporting process.
What will be an ideal response?
Consider an organization with poor database security controls. In such a situation, even data processed by systems with adequate built in application controls may be at risk. An individual who can circumvent database security, may then change, steal, or corrupt stored transaction data. Thus, general controls are needed to support the functioning of application controls, and both are needed to ensure accurate financial reporting.
PTS: 1
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