Explain how an IT environment affects independent verification.

Q: How can Embedded Audit Modules in software be utilized in an audit?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: In terms of configuration, what function does the audit trail play?

A: Here is the Answer

Q: Now consider “segregation of duties.” Determine why it is important in an IT environment. What are…

A: Introduction:- Segregation of Duties is a basic building block of sustainable risk management and…

Q: what type of information should be included in the systems analysis report?

A: System analysis is the examination of the business problem that organizations plan to solve with an…

Q: How to audit PPE?

A: Introduction:- PPE means:- PPE means property , plant, Equipment Which is identified as Fixed asset…

Q: Discuss the independence issue related to Generalized Audit Software

A: GAS stands for Generalized Audit Software, which is defined as the software created in order to…

Q: Explain how an IT environment affects the segregation of functions.

A: Segregation of Duties (SoD) is a set of controls and policies intended to ensure accuracy and keep…

Q: Explain how an embedded audit module works.

A:

Q: What is the purpose of Access Security Software?

A: Introduction: Access security is a procedure that is implemented into the information technology…

Q: What does the process of providing this information to external users is called? Describe about it…

A: Financial Reporting System:   It refers to monitoring the financial resources of an organization as…

Q: How could a computerized system’s transaction audit trail in an advancedsystem differ from one in a…

A: Audit Trail: The accounting records of an entity are provided in an audit trail. It is used to…

Q: riefly provide your opinion whether an auditors wishing to assess the adequacy of separation of…

A:

Q: What is (are) the purpose(s) of maintaining a valid vendor file?

A:

Q: Discuss the reason of why an understanding of legacy system technologies is of some importance…

A: Legacy System: Legacy system refers to the outdated computer system whose data is used even in…

Q: relationship between application controls and transaction-related audit o

A: Application control is a check on the application in which the wrong execution of data input is…

Q: Consider “segregation of duties.” Why it is important in an IT environment. What are some advantages…

A: segregation of duties means that no single person should be solely accountable for certain business…

Q: Explain the link between application controls and the audit goals for transaction-related audits.

A: Introduction: In the context of an application, application control is a check-in in which the…

Q: List the causes of information risk,and explain how this risk can bereduced

A: Information Risk – It’s a kind of risk which occurs whenever various business risk decision are made…

Q: In what ways can independent verification occur?

A: Independent Verification of business activities of a company can be done various ways. Some of them…

Q: What do you call a thing that is provided by AIS by ensuring the information produced by the system?

A: Accounting Information Systems: An accounting information system is referred to as the system that…

Q: What very important precautions must be taken during the data conversion procedures?

A:

Q: Briefly explain the threats to an external auditor’s independence with examples.

A: Auditor:Auditor can be defined as the individual who carry out the process of auditing in the…

Q: Which of the following is NOT part of the systems implementation process? a. converting databases b.…

A: Select the correct option from the above.

Q: What exposures do data consolidation in a CBIS environment pose?

A:

Q: necessary in the AIS

A: The Importance of Accounting Information Systems in the Accounting Curricula:    Research regarding…

Q: What is the benefit of Generalized Audit Software in an audit?

A: Definition:   Generalized audit software (GAS): The software which assists an auditor to perform…

Q: What is the purpose of a digital audit trail?

A: Digital audit trail means that path which is used to trace the actual transactions from the relevant…

Q: Explain the importance of documentation by the systems programmers.

A: Documentation:   Documentation refers to maintain a set of documents by a technical person in the…

Q: Distinguish between the verification model and the discovery model approaches to data mining.

A: Data Mining:   The data mining is the technique which is used by the management reporting system…

Q: Should system users perform the systems development tasks or should these tasks be left to systems…

A: System Development:  System development is the process by which IT professionals design, program,…

Q: What is feedback and how is it useful in an information system?

A: Definition: Accounting information system: The system which helps to gather, store, and process the…

Q: What does stewardship mean and what is its role in an information system?

A: Definition: Accounting information system: The system which helps to gather, store, and process the…

Q: Explain an example of external users.

A: Financial Statement:   They are annual reports of an organization summarizing the financial…

Q: Briefly provide your opinion whether an auditor wishing to assess the adequacy of separation of…

A:

Q: What is the difference between system software and application software?

A: System Software is the software type which is the interface between system & application…

Q: Why is the object-oriented approach particularly suited to ERP system design?

A:

Q: What are some tests of data communications controls?

A:

Q: Discuss why an understanding of legacy system technologies is of some importance to auditors.

A: Legacy system: It can be defined as the old computer hardware or software, outdated technologies,…

Q: What are CAATs (Computer-aided audit tools)?

A: CAAT is a technique through which, computer is being used in performing some part of the auditing…

Q: Discuss both internal and external factors affecting the ITP systems.

A: Internal Factors:1)Internal Social EnvironmentProblems with transfer pricing exist only inside a…

Q: Why is IT control and auditability so important in today's virtual environment?

A: Today's virtual environment has changed the aspects of traditional accounting and audit process…