Class 8

Question #66:  Lamar LLC is in the process of updating its revenues and receivables systems with the implementation of new accounting software. James Loden, Inc. is an independent information technology consultant who is assisting Tamar with the project. James has developed the following checklist containing internal control points that the company should consider in this new implementation: Will all data entry clerks and accounting personnel have their own PCs with log‐in IDs and password protection? Will different system access levels for different users be incorporated? Will customer orders be received via the Internet? Has the company identified an off‐site alternative computer processing location? Does the project budget include line items for an upgraded, uninterrupted power source and firewall? Required: In a two (2) page response, describe the control purpose for each point presented in the case.

Pemaining: 01:57:28 Accounting Subject : Management information system Draw two(2) separate mind maps to describe : 1) The ethical issues brought about by the development amd advancement in information technology 2) The threats towards computerised information system and protective measures to counter them. Your ancwor

sibility Mode Print Find The CEO of your company is concerned about cyber security and has asked you to perform a "breach of customer data” risk assessment. Beyond the costs of resolving the technical concerns, a breach of customer data will create potentially several unplanned costs such as: (1) forensic examination; (2) notification of customers and third parties; (3) increased call center costs; (4) public relations costs; (5) legal defense and potential settlements; and, (6) federal or state fines, penalties, and potential required future audits. You worked with the Director of Security to perform the risk assessment and your summary of the risk assessment is the following. The Director of Security believes there is only a 5% chance over the next three years of a breach of customer data. However, if a breach of customer data occurs the 10-50-90 range of impact to the company as measured in net present value is - $100M, -180M, and-250M respectively. The IT organization has suggested…

By taking into account information from the latest programme of Walmart (ethics and compliance) and the new GDPR data protection legislation, provide a summary of your key concerns about ethical, legal and professional implications associated with information handling and security 900 words

XYZ Company hired you as an internal control officer to help the company in developing the internal control system which is consists of policies and procedures to protect assets, ensure reliable accounting, promote efficient operations, and uphold company policies. As well as the system will prevent avoidable losses and help managers both plan operations and monitor company and human performance. list any five good principles of internal control that you need to consider when developing the system. Essay Toolbar navigation BIUS A !!! 四

Understanding internal control, components, procedures, and laws Match the following terms with their definitions.

Industry Tools Research Your manager has asked you to recommend an industry tool for purchase.  Select one of the following tools to research:  ACL, IDEA, Microsoft Visio, Oversight, Power BI, Alteryx, and Tableau. Identify key features of each tool. Discuss how auditors can incorporate the tool into their audits. Additional learning opportunities: If you are interested in learning more about data analytics and emerging technologies in accounting, join the Institute of Management Accountants (IMA) for only $25 per year: Students | IMA - The association of accountants and financial professionals working in business.Links to an external site. (Use code Student22).  Gain access to Free courses, training, and webinars.

ket system My Dispense Academic Calendar Clear my choice My courses (7) Essay Question: (LO# 2) One of the Components of Internal Control is the control activities; which are the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives. What are the most important control activities (Explain of each of these control activities)? Paragraph B Path: p Which of the following is not a likely source of information to assess fraud risks? く & 8 A 6 7 7 V 1O て (E 3. Y を IT K J H. G J く N !MS

Internet Exercise: Reporting on Service Organization Controls. Search for a service organization auditor’s report on internal controls on the web. (Hint: You may have to look under the old name “SAS 70 reports.”) If you cannot find an auditor’s report, find a company’s news release describing its auditor’s service organization report. Required:a. Why do you think it is so difficult to find an actual report?b. If you found an auditor’s report, were any deficiencies noted? If so, what were they?c. Why would a service organization publicize the results of its auditor’s report?

Discuss some of the security issues related to e-business and recommend control activities. Why should the product and financial stability of the companies that are on your short list pf AIS be investigated?

Match the following terms with their definitions. (Use each definition only once.) A (Consider the following definitions.) Term Definition More Info 1. Internal control 2. Control procedures 3. Firewalls a. Two or more people working together to overcome internal controls. 4. Encryption b. Part of internal control that ensures resources are not wasted. 5. Environment c. Requires companies to review internal control and take responsibility for the accuracy and completeness of their financial reports. 6. Information system d. Should be prenumbered to prevent theft and inefficiency. 7. Separation of duties e. Limits access to a local network. 8. Collusion f. Example: The person who opens the bank statement should not also be the person who is reconciling cash. 9. Documents g. Identification of uncertainties that may arise due to a company's products, services or operations. 10. Audits h. Examination of a company's financial statements and accounting system by a trained accounting…

ning Objective 1 S8-1 Defining internal control Internal controls are designed to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate accounting records. Requirements 1. Which objective do you think is most important? 2. Which objective do you think the internal controls must accomplish for the busi- ness to survive? Give your reason.

Explain how internal control can be enhanced through the proper installation of Information Technology Identify the risks for accounting systems that rely heavily on IT functions. Distinguish between general controls and application controls and give examples at least five Which duties should be segregated in a computer department? Describe the typical duties of computer personnel. What aspects of documentation, file security and retention control procedures are unique to computer systems? What are the responsibilities of the database administrator (DBA) function? Compare the risks associated with network environment to those associated with centralized IT functions.

Question 7 Z scores are:   A. Used to evaluate the quality of imaged files   B. Used to identify outliers in data   C. A fraud score based on ISO standards   D. Issued by the SEC to identify public companies that are experiencing risk assurance problem           ReplyForward

AIS James Hall 10th edition chapter 5. What is the answer for internal control cases number 5 the Generators R US (centralized system with distributed terminals)?

Chapter 10   Accounting Information Systems   Short Problem 10-3, page 394: Using the following table as a guide, describe for each function from Figure 10.1: A risk (an event or action that will cause the organization to fail to meet its goals/objectives) A control/process or use of technology that will address the risk.

Accounting 1. what measures QuickBooks software implements to prevent cybersecurity breaches.

According to the risk management process in ISO 31000, which of the following is a necessary step in risk assessment? Select one: A. Risk treatment B. Risk transfer C. Risk analysis D. Risk minimisation ####  i want answer within one hour,Thanks

Short answer please