Flashcards 61 Flashcards
Students 4 Students
Language English
Level University
Created / Updated 09.06.2016 / 30.06.2019
Licencing No Copyright (CC0)
1 Exact answers 55 Text answers 5 Multiple-choice answers
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What issues must an auditor adress with the SAP ERP environment?

General IT Controls may not be enough

Can all accounts be audited substantively

Is the transaction monitoring authentic

Are the inherent risks managable?

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Why is auditing SAP ERP different?

SAP ERP has great flexibility and breadth of functionality.
It has a different application / environment split than other ERP. 

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Why do you need Compliance?


There is always an information gap and a
conflict of interests between producer and
customers / between management and shareholders

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Give a definition for GRC. And explain the 3 main factors.

GRC refers to a company's coordinated strategy for managing the broad issues of corporate governance, enterprise risk management and corporate compliance. 

Governance: Effective as well as ethical management of a company.

Risk:effectively mitigate risks, which hindern the company to be competitive. 

Compliance: External regulations for the business operations and data retention.

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What are benefits of using GRC?

Higher quality information
Process optimization
Better capital allocation
Improved effectiveness
Protected reputation
Reduced Cost

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What are challenges for audits? (4)

changing and very different regulations
Big data
Increased oversight of processes
Tighter control of manual entries

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Licencing: Not defined

Which one is with GRC and which one without?

Left with GRC and right without GRC

Left without GRC and right with GRC

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What does GRC stand for?



Risk Management