A control related to the specific functioning of an application system that supports a specific business process. Application controls are policies,
procedures and activities designed and implemented to provide reasonable assurance that management's objectives relative to a given automated solution are achieved. In defining its business and control requirements for an automated solution, management would need to satisfy the following objectives :
- Completeness: the application process all transactions and the resulting information is complete.
- Accuracy: all transactions are processed accurately and as intended and the resulting information is accurate.
- Validity: only valid transactions are processed and resulting information is valid.
- Authorisation: only appropriately authorised transactions have been processed.
- Segregation of duties: the application provides for and supports appropriate segregation of duties and responsibilities as defined by management.