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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Conduct research to determine management’s responsibility for establishing and maintaining an adequate system of internal control. Create a written report, in a manner prescribed by your instructor, describing applicable statutory and professional guidance, the implications of internal control obligations, and how management should discharge its internal control responsibilities.

Summary Introduction

To conduct: A research on the internal control of an organization and to prepare a report.

Introduction:

Accounting information systems:

It is an information structure which collects and manages data of an organization which can be utilized by analysts, managers, and other decision making authorities of an organization.

Explanation

A research on the internal control of an organization and to prepare a report:

A management can be held responsible for its control system. An organization must maintain adequate records. The Sarbanes-Oxley act reinforced the importance of establishing adequate control systems. It ensures that the firm maintains an adequate control or else the management can be fined or imprisoned.

A management discharges responsibility as shown below:

  • Developing an internal control system consisting of an internal audit system...

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