Disruptions to operations are a common side effect of implementing an ERP. Explain the primary reason for this.

Q: Identify the main areas of risk which may arise in relation to computer systems

A: Following are the main areas of risk which may arise in relation to computer systems:

Q: At which point are errors are most costly to correct? a. programming b. conceptual design c.…

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Q: Describe the shortcomings of the direct write-off method.

A: Direct write-off method: This method does not make allowance or estimation for uncollectible…

Q: According to COSO, one of the most important control activities is the segregation of incompatible…

A: Separation of duties refers to the means through which no single or individual person has sole…

Q: Why is poor-quality systems documentation a prevalent problem?

A: Computer Based Information System: Computer based information system refers to the record of data…

Q: Why is human behavior considered one of the biggest potential threats to operating system integrity?

A: Operating system: The system which provides the basic functioning of a device by interconnecting the…

Q: What is the fundamental concept behind the rule of least access? Explain why this is a potential…

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Q: Why is there a need to re-evaluate impairments due to trigger events?

A: When-ever there are any types of assets which are non-tangible assets as well as tangible assets…

Q: Explain the technique known as destructive update.

A: Accounting Information System:   It is a structural framework used by business to collect, store,…

Q: A good structure diagram should be loosely coupled yet strongly cohesive. How can you achieve both…

A: Entity-Relationship Diagram: A diagram which represents the entity relationship available in the…

Q: ) What deficiencies in IRR can be overcome by using MIRR?

A: Introduction : Internal rate of return, commonly referred to as the IRR, can be understood as the…

Q: risk management ideas, common reaction strategies, and IT system recovery issues

A: Some of the important risk management ideas are listed below: Keep an eye on changes in your…

Q: Discuss the risks from equipment failure and how they can be controlled.

A: Under data communication, equipment failure can be defined as the special device or equipment that…

Q: Explain the risks associated with the creation of unnecessary roles and why it can happen.

A: Role Based Access Control: RBAC can be defined as an access control which is used to restrict the…

Q: In the absence of protocols, networks would be unusable. Describe the significance of these…

A: Answer: Concept: Network can be defined as the connection of devices sharing data provided under…

Q: Define check tampering.

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Q: The following questions/inquiries can be used in determining risk, EXCEPT: CHOICES: A)What is the…

A: A risk is something that could affect the entity from achieving its goals and objectives. For the…

Q: Describe some limitations of internal conrol systems. Why do limititations on internal control…

A: Please find the answer to the above questions below:

Q: Identify and explain one major disadvantage of incorporating.

A: Incorporating is a legal and systematic method for the formation of a separate business entity for…

Q: What are the types of situations that result in troubleddebt?

A: Troubled debts can result in two different situations, which are as…

Q: What is required if a Material Weakness is identified?

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Q: What are (a) an internal control deficiency, (b) a significant deficiency, and (c) a material…

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Q: Networks would be inoperable without protocols. Explain their importance and what functions they…

A: Protocol:   Protocols are the rules and instruction which are formed and followed to send or receive…

Q: When is the timing of substantive procedures most flexible? O detection risk is assessed as low O…

A: Substantive procedure refers to a process performed by the auditor in order to detect the material…

Q: Operational risks may result from breakdowns in ______ procedures, people and systems as opposed to…

A: Operational risks Operational risks are referred to as that risk that includes errors because of the…

Q: Risk of material misstatements increases if

A: Please see the next step for the solution

Q: Which of the following is not a risk specific to CIS environment ?       a.   reliance on the…

A: CIS environment refers to using of Computer in order to perform the processing of the entity, in…

Q: Which of the following is NOT a data communications control objective?a. maintaining the critical…

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Q: Inspector expenses and other expenses that are designed to ensure quality or uncover defects are…

A: Company starts processing of work after some planning of costs, revenue or processes to be followed.…

Q: Why is it risky to allow programmers to create user subschemas and assign access authority to users?…

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Q: Explain why monitoring alone cannot completely eliminate the agency costs

A: The costs incurred as a result of conflict of interest between company and its stakeholders is known…

Q: Why is segregation of duties important in an IT environment. What are some advantages of using IT…

A: Segregation of Duties  is a critical component of risk management and internal controls in a…

Q: What are some limitations of using the direct write-off method?

A: In order to increase sales generally business enterprises sales the goods on a credit basis. When…

Q: Two potential pitfalls encountered in the design of performance indicators and measurement systems

A: Transfer price is the price quoted between the departments or companies that are related to each…

Q: Discuss how rushing the system’s requirements stage may delay or even result in the failure of a…

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Q: Which of the following is NOT an example of a significant deficiency in internal control?

A: Statement 2,3 and 4 are examples of significant deficiency in internal control as they are…