That there is safe custody of assets Flashcards
1
Q
What is risk?
A
That controls items are misappropriated
2
Q
What is control objectives?
A
Ensure that there is safe custody of assets
3
Q
What is controls (physical safeguards)
A
Establish physical safeguards over non-current assets such as locks, safes and keypads
4
Q
What is controls (insurance)
A
Maintain adequate insurance over non-current assets
5
Q
What is tests of controls (operation)
A
Test operation of physical controls, such as obtain to gain access to restricted area without following security procedures
6
Q
What is tests of controls (assets insurance documents)
A
Inspect a sample of assets, inspect insurance documents to determine whether insurance is up-to-date and adequate
