Literary Warrant for Functional Requirement #3a
This requirement derives from the law, customs, standards and
professional best practices accepted by society and codified in the literature of different professions concerned with records and
recordkeeping. The warrant is as follows:
Citation Statements on Auditing Standards 55. Consideration of the Internal Control Structure in Financial
Statement Audit
Pages 11
Extract Control procedures are those policies and procedures in addition to the control environment and
accounting system that management has established to provide reasonable assurance that specific entity
objectives will be achieved. Control procedures have various objectives and are applied at various
organization and data processing levels. They may also be integrated into specific components of the
control environment and the accounting system. Generally, they may be categorized as procedures that
pertain to - Design and use of adequate documents and records to help ensure the proper recording of
transactions and events, such as monitoring the use of prenumbered shipping documents
Citation Miller GAAS Guide. 1994.
Pages 7.16
Extract The accounting system should capture all relevant transactions that have occurred during the
accounting period.