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In the course of a review at a small financial company, an IT auditor discovers that IT and accounting functions are assigned to the same employee within the system. What type of review would be the most effective type of compensating control for this situation?
A summary daily report with the total numbers and dollar amounts of each transaction
Computer log files that show individual transactions in the financial system
User account administration
Audit trails that capture the date and time of the transaction
Computer logs will record the activities of individuals during their access to a computer system or data file and will record any abnormal activities, such as the modification or deletion of financial data. An audit trail of only the date and time of the transaction would not be sufficient to compensate for the risk of multiple functions being performed by the same individual. Review of the summary financial reports would not compensate for the segregation of duties issue. Supervisor review of user account administration would be a good control; however, it may not detect inappropriate activities.
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