Analyzing Information Technology Auditing Problems

1495 WordsApr 8, 20176 Pages
In this assignment, you will analyze information technology auditing problems. Instructions After completing this week’s Learning Activities, use what you have learned to complete this project. Create a word processing document that demonstrates completion of the following tasks. Include the tasks and question numbers in your document. APA Style is not required. If you have questions about the assignment, see the FAQ under General Course Content or post your questions in General Course Questions under Getting Started. When complete, submit your assignment here: Link to Assignment Submission Folder Tasks Task 1 Compu-Circuits Compu-Circuits Inc. is a publicly traded company that produces electronic control circuits, which are used in…show more content…
Audit committee member: The committee member felt strongly that the Audit Committee as currently constituted is appropriate and no changes need to be made. Although none of the committee members are trained accountants they all have extensive industry experience, they have all been associated with Compu-Circuits in various capacities for many years, and are well qualified to fulfill their policy-oversight responsibilities. External audit partner: The external audit partner pointed out that the internal audit function should be organized such that it supports a close working relationship with the external auditors. This would include monitoring internal control systems on a continuing basis to provide a body of evidence on which the external auditor can rely. Director of Internal Audits: The Director of Internal Audits argued that the new IA function should focus more on operational auditing issues, but it also should play a role in the review of internal controls over financial report. Answer these questions: Describe the role that each of the following areas has in the establishment, maintenance, and evaluation of internal control: Management, External auditor, Internal audit. To whom should the Director of Internal Audits report. Explain your answer. Comment on the audit committee member’s perspective as to the committee’s current composition. Task 2
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