Accounting Information Systems
Solutions
Accounting Information Systems
“PCAOB Audit Standard No. 5 (AS5) paragraph 37 and Statement on Auditing Standard Section 319 (AU 319) paragraph 75 suggest that management, business process owners, and auditors prepare and analyze systems documentation to understand the flow of transactions through a process and to identify and assess the effectiveness of the design of internal controls. However, organizations, internal audit departments, and public accounting firms have developed their own methods for documenting systems. Therefore, I am not going to learn to prepare systems documentation until I know exactly what technique I will need to use in my job.” Do you agree? Discuss fully.
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.
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...
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