IT General Controls (ITGC)
Controls over the IT environment supporting financial reporting applications — access management, change management, and IT operations — distinct from controls within a specific business process.
Related terms
- Input Service Distributor (ISD)
An office of a business that receives invoices for input services and distributes the available credit to its other registered units.
- Input Tax Credit (ITC)
The GST paid on purchases that a registered business can set off against the GST it owes on its own sales.
- Joint Audit
An engagement where two or more audit firms are jointly responsible for the same audit, each taking responsibility for the work they perform and jointly for the report.
- Key Audit Matters (KAM)
Matters that, in the auditor's professional judgment, were of most significance in the audit of the current period's financial statements, communicated under SA 701.
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