Control Risk - Assessment & Testing
• Determine major transaction cycles (for example: gaming revenues).
• Walkthroughs of transactions – inception to recording to reconciliation.
• Compliance with documented control systems.
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Control Risk - Continued • Inquiry alone is not sufficient to test controls.
• Determine if control system design satisfies general segregation of duties (Authorization, Recording, Custody).
• Perform tests of transactions.
22
BlueBird CPAs
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