Explanation Comment on the given statement: It is given that auditors and business owners use system documentation to understand the transaction flow and to understand the effectiveness of the internal control’s design. Hence, a student says that he is not going to learn about the system document preparation until he finds a job, as each organization prepares different system documentation process...

11th Edition

ISBN: 9781337552127

Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher: Cengage Learning

See similar textbooks

Question

Chapter 4, Problem 2DQ

Summary Introduction

To comment: On the given statement.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Expert Solution & Answer

Chapter 4 Solutions

Accounting Information Systems

Ch. 4 - Prob. 1RQ Ch. 4 - Prob. 2RQ Ch. 4 - Describe each symbol used in constructing DFDs.Ch. 4 - Prob. 4RQ Ch. 4 - Prob. 5RQ Ch. 4 - Prob. 6RQ Ch. 4 - What is a logical DFD?Ch. 4 - Prob. 8RQ Ch. 4 - When is a set of DFDs balanced (i.e., leveled)?Ch. 4 - Prob. 10RQ

Knowledge Booster

Similar questions

Refer to Exhibit 2.5 and answer the following questions. a. (Sections 101, 104, and 105) How does the establishment and operation of the PCAOB help to ensure quality external audits? How will audit firm inspections and investigations by the PCAOB help ensure high audit quality? b. (Sections 201-203) How do Sections 201-203 address audit ()r independence concerns? c. (Section 206) What is a cooling-off period, and how does it address auditor independence concerns? d. (Section 301) How do the audit committee requirements help ensure effective corporate governance? e. (Sections 302 and 906) How do the officer certification requirements help to address the risk of fraud in publicly traded organizations? What is the likelihood that a CFO who is committing fraudulent financial reporting would sign the certification falsely, and what are your reactions to that possibility? f. (Section 401) How does this section relate to the Enron fraud? g. (Section 404) How do the management assessment and audit or attestation of internal controls contained in this section help to address the risk of fraud in publicly traded organizations? h. (Section 407) Why is it important that at least one member of the audit committee be a financial expert? What are the financial reporting implications if the audit committee does not have any individuals serving on it who possess financial expertise? i. (Section 802) How does this section relate to the Enron fraud?

Recommended textbooks for you

Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Contemporary Auditing
Accounting
ISBN:9781337650380
Author:KNAPP
Publisher:Cengage
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub