what is Strategic Systems Auditing and how it apply to the company?

Q: What is meant by the term quality control as it relates to CPA firm?

A: Quality Control:   It is a process by which a business can ensure improved product quality. This…

Q: Evaluate the value of the internal audit function to an organization's overall performance.

A: Introduction: The audit is defined as the evaluation and analysis of the financial statements and…

Q: What are the roles of internal and external auditors?

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

Q: The internal audit, which is a tool to evaluate the working of each management function, It refers…

A: Internal audit: Internal Audit is a department or a corporation of individuals within a corporation…

Q: how to communicate information and monitor control processes in organizations.

A: Information is required for the entity to carry out internal control obligations in order to…

Q: Why is it important for internal auditors to have a fundamental understanding of diverse business…

A: Introduction: An internal auditor is a corporate employee whose job is to verify the firm's…

Q: external strategic management audit, industry analysis is better than environmental scanning.…

A: External strategic management audit refers to the detection and assessment of patterns and…

Q: Why are accountants regarded as system users in the systems development process if they are seen as…

A: The answer:

Q: Critically appraise the Internal Audit function of the company. Add information about the internal…

A: Answer:-  Internal Audit meaning:- Internal audit helps in the assessment of the company's internal…

Q: Evaluate the contribution of the internal audit function to the effective running of an…

A: Audit is defined as the evaluation and analysis of the financial statements and information dealt by…

Q: Explain the concept and give real life examples of Audit Planning and Business Processes

A: Audit planning is the process wherein the auditor plans when to do the audit , how to do it and what…

Q: What are management’s and auditors’ respective responsibilities regarding internal control?

A: Internal control: Internal controls are set by management. it is important to understand that…

Q: how does general control area of systems development and program change impact day-to-day…

A: Accounting Information system:  The Accounting Information System is a system that a business uses…

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 difference between internal and external users of information and their needs and…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: project plan is a company's information security blueprint, but how does this occur?

A: step 1  A security blueprint can be defined as a comprehensive plan for managing an organization's…

Q: Define what is meant by compliance auditing

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: The attitudes and actions of those charged with governance concerning an entity's internal control…

A: Control activities involves policies and procedure taken by the management to minimize risk. It…

Q: The systems development life cycle is a methodology. Why are auditors responsible for evaluating the…

A: Auditor: The person who is considered responsible for assessing the credibility of the financial…

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification…

Q: Distinguish management’s responsibility from the audit committee’s responsibility for designing and…

A: Anti-fraud programs and controls depict the actions taken by the management to prevent and mitigate…

Q: necessary in the AIS

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

Q: Identify risks for accounting systems that rely heavily on IT functions.

A: Risk refers to the outcomes of uncertainties. It can be good if well planned and it can be worst…

Q: What is the audit committee’s contribution to strategy?

A: An audit committee is a committee which looks after, directs and guides for the financial process,…

Q: What are the objectives of auditors in auditing data management?

A:

Q: Provide relevant examples explaining.

A: Auditing-:Auditing inventory is the procedure of cross-checking financial documents with physical…

Q: 1. Explain the Diagram provided below base on your understanding of the concepts of Auditing. thank…

A: The management of the company is responsible for preparing the financial statements, which may…

Q: What are management's and auditors' relative internal control responsibilities

A: Introduction:Management establishes internal controls. To preserve the integrity of the financial…

Q: What can be done by a business to mitigate: Execution risk Technology risk Reputation risk…

A: Risk management  Risk management is the identification, evaluation, and prioritization of risks…

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: Compare and discuss the impact of the business environment on the internal audit risk assessment

A: The process of risk assessment helps in identifying and analyzing risks so that the objectives of…

Q: What is the internal auditor’s primary role in the conceptual design of the system?

A: Conceptual Design:   Conceptual design is that structure which provides various conceptual system…

Q: What is the importance of strategic audit? and its scope.

A: Strategic audits help in making audits effective and efficient. It provides a basis for audit…

Q: Which of the following elements of a system of quality control is related to firms receiving…

A: Independence in Fact: Independence in fact requires that an auditor must not be biased or partial…

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: explain why and auditor needs an understanding of the client's industry

A: A person who has the authority to examine financial documents, confirm their accuracy, and make sure…

Q: What is a service organization? Why would it engage an auditor to report on its controls?

A: A process under which a quality system is inspected, examined, and verified to make sure that it is…

Q: Describe how the audit team assesses control risk in an IT environment.

A: Control risk in the audit :           As the name suggests, it is the risk associated with the…