Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Question
Chapter 5, Problem 7DQ
To determine
Explain reasons for preferring audit firms in usage of proprietary workpapers rather than making storage of working papers on the cloud.
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Chapter 5 Solutions
Data Analytics For Accounting
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- Which of the following statements is most accurate? a. ERP systems are commercial software packages that are sometimes called turnkey systems because they can be implemented by the user with little or no modification. b. Substantive tests provide evidence focused on the system controls. c. Public accounting firms that provide attest services are not allowed under SOX to offer IT advisory services. d. Both small and large firms that have standardized information needs are potential customers for commercial software. e. External auditors may rely on the work of internal auditors only if they report to the controller or the CEO of the client company.arrow_forwardWhich of the following statements is NOT correct? a. EAMs capture transactions during processing without removing the application from service. b. EAMs support continuous monitoring of controls. c. EAMs have the potential to corrupt corporate databases d. EAMs decrease operational performance. e. All of the above are correct statements.arrow_forwardDiscuss the importance of the role of the database administrator. In the flat-file environment, why is such a role not necessary? What tasks does the DBA perform?arrow_forward
- Many large companies use an electronic data interchange (EDI) to communicate with key customers and suppliers. Explain the benefits and risks involved when companies use EDI. Explain one way that the use of EDI affects internal controls and the auditor's testing.arrow_forwardDescribe the differences between auditing around the computer and auditing through the computer? Which one is more effective in a computerized accounting information system? Why?arrow_forwardConsider “segregation of duties.” Why it is important in an IT environment. What are some advantages of using IT and audit software when conducting an audit?arrow_forward
- Management and auditor are concerned about segregation of duties in computer based systems? Why? How to mitigate this concern?arrow_forwardWhat types of unique control problems are created by the use of PC accounting systems?arrow_forwardDiscuss why control procedures over access to the data resource become more crucial under the database approach than in the flat-file environment. What role does the DBMS play in helping to control the database environment?arrow_forward
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