“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.
Accounting Information Systems
Accounting Information Systems
Solutions
“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.
Expert Solution
Chapter 4 Solutions
Additional Business Textbook Solutions
Corporate Financial Accounting
Cornerstones of Financial Accounting
Financial & Managerial Accounting
Principles of Economics (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Principles of Macroeconomics (MindTap Course List)
Probability and Statistics for Engineering and the Sciences
Brief Principles of Macroeconomics (MindTap Course List)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Foundations of Business (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Principles of Microeconomics (MindTap Course List)
Essentials of Business Communication (MindTap Course List)
Financial And Managerial Accounting
Essentials of Economics (MindTap Course List)
Financial Accounting
College Accounting, Chapters 1-27
Management, Loose-Leaf Version
Contemporary Marketing
MKTG 12:STUDENT ED.-TEXT
College Accounting (Book Only): A Career Approach
Managerial Accounting: The Cornerstone of Business Decision-Making
Accounting Information Systems
Intermediate Accounting: Reporting And Analysis
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
Accounting (Text Only)
College Accounting (Book Only): A Career Approach
Exploring Economics
Statistics for Business & Economics, Revised (MindTap Course List)
Financial & Managerial Accounting
Financial Accounting
Principles of Macroeconomics (MindTap Course List)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Corporate Financial Accounting
Economics (MindTap Course List)
Purchasing and Supply Chain Management
Economics For Today
Cornerstones of Cost Management (Cornerstones Series)
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Practical Management Science
Survey of Accounting (Accounting I)
MACROECONOMICS FOR TODAY
Economics: Private and Public Choice (MindTap Course List)
Understanding Management (MindTap Course List)
Managerial Accounting
Macroeconomics: Private and Public Choice (MindTap Course List)
Micro Economics For Today
Principles of Microeconomics
Microeconomics: Private and Public Choice (MindTap Course List)
