Accounting Information Systems
Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
Question
Chapter 9, Problem 6DQ
Summary Introduction

To describe: The situation where Person X experienced or employed controls.

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.

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Match each of the following control activities with its definition. Control Activities Definitions 1. Separation of duties 2. Physical controls 3. Proper authorization 4. Employee management 5. Reconciliations 6. Performance reviews a. The company should maintain security over assets and accounting records.b. Management should periodically determine whether the amounts of physical assets of the company match the accounting records.c. The company should provide employees with appropriate guidance to ensure they have the knowledge necessary to carry out their job duties.d. The actual performance of individuals or processes should be checked against their expected performance.e. Authorizing transactions, recording transactions, and maintaining control of the related assets should be separated among employees.f. To prevent improper use of the company’s resources, only certain employees are allowed to carry out certain business activities.
Keeping supplies in a locked room with access allowed only to authorize personal is an example of which preventative control? A.) separation of duties B.) proper authorization. C.) physical controls D.) employee management
When planning the audit of internal controls for an issuer, the audit team shoulda. Identify significant accounts, locations, and assertions.b. Conduct a walkthrough of the internal control process.c. Make inquiries of employees regarding the existence of control activities.d. Reperform control activities performed by client employees to determine theireffectiveness.
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