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

Q: Explain the problems associated with lack of director independence.

A: An independent director is a director of board of directors who does not have a material…

Q: What is the risk of Incorrect Rejection?

A: Risk of incorrect acceptance of internal control reliability and risk of incorrect acceptance of…

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 the limitation of portfilio analysis is itsuggests the use of standard strategies that can miss…

A: A portfolio is a collection of various investments. Portfolios are a vital part of a corporation…

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

A:

Q: What are the main costs and limitations of implementing ABC systems?

A: Activity Based Costing: Activity based costing is one of the methods of costing to identify the…

Q: List the disadvantages of decentralization.

A: Decentralization refers to a company's top management delegating authority to subunits of the…

Q: What is the risk of assessing Control Risk too low?

A: Definition:   Tests of controls: Tests of controls form the part of audit procedures to be…

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: 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: Distinguish between AIS and MIS.

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

Q: Discuss the objectives of the risk management process. Why should you follow a regimented and well…

A: Risk management is a strategy for preventing and controlling dangers to a company's operations. It…

Q: Which of the following is NOT an example of a decisional role according to Mintzberg? Select one: O…

A: According to Mintzberg, at the managerial level, the most crucial and important part is to make the…

Q: Explain the differences between planning, directing, and controlling.

A: Planning: It means thinking in advance what to do, when to do and how the actions would take place…

Q: According to Simon (1999) the most appropriate Lever of Control to address a lack of opportunity or…

A: According to Simmon (1999) One of the most difficult problems managers face today is maintaining…

Q: What are the risks from subversive threats?

A: Taking illegal access over a firm internal system network by doing activity of surpassing the…

Q: Contrast the advantages and disadvantages of CASE tools. What should determine whether CASE is used?

A: CASE Tools:   CASE stands for Computer Aided Software Engineering Tools. CASE is used for the…

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: Disruptions to operations are a common side effect of implementing an ERP. Explain the primary…

A: ERP: Enterprise resource planning is management software that helps in integrating all the…

Q: Discuss some of the techniques available to reduce risk exposure.

A: Risk exposure means possible losses which can be occur in future due to specific projects or…

Q: discuss how critical thinking skills will make you less likely to be influenced by arguments that…

A: The fallacies are the wrong move a person takes instead of a rational judgment. They may be…

Q: What are valid weaknesses of NPO?

A: Not for profit organization have certain weaknesses. some for them are- 1. Limited Purposes In order…

Q: Discuss the benefit of identifying avoidable and unavoidable cost in decision making process.

A: Benefit of Avoidable Cost   1. Avoidable cost Avoidable cost helps management in decision making…

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: efine the term materiality and explain why it may be d

A: Materiality is quite important in preparing the financial statement and it is very important to the…

Q: What is the iceberg effect? How can CASE tools help to minimize this phenomenon?

A: The Iceberg Principle or Iceberg Theory is a hypothesis that proposes that we can't see or recognize…

Q: Explain Handling Unequal Service Lives?

A: The two projects compared has unequal project lives. Such projects are handled by two…

Q: What are some of the reasons that ABM implementation may lose the support of highermanagement?

A: ABM (account-based marketing) is a company marketing technique that focuses efforts on a small…

Q: Explain how materiality differs for failure to follow GAAP and for lack of independence.

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Explain Handling Unequal Service Life Problems in Replacement Analysis?

A: Companies often consider various options when it does the replacement projects. Companies come…

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: What management levels are more likely to deal with unstructured problems? With structured problems?…

A:

Q: Stakeholders are less likely to include which of the following groups

A: Meaning of Stake holders In any entity stake holders can be segregated in to internal and external…

Q: What is the risk of assessing Control Risk too high?

A: Control risk refers to the probability of financial statements that were considered wrongly stated…

Q: What are some strengths and weaknesses in the  AIS system and ways to improve any weaknesses…

A: AIS stands for Accounting information system which is a method based of computer used through…

Q: Why is it often difficult to obtain competent and meaningful user involvement in the SDLC?

A: System Development Life Cycle (SDLC): System Development Life Cycle (SDLC) is a system development…

Q: What are the strengths and weaknesses that you see in the system and ways that you would improve any…

A: Systems development is an integral part of modern corporate world. Systems play an important role in…

Q: Explain how a possible conflict between neutrality and prudence could arise and how the conflict…

A: Neutrality and Prudence are two characteristics of reliability of accounting information. Neutrality…