о Eliminates the need for audits.
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- Even though technology has improved the internal control structure of a company, a supervisor cannot depend totally on technology. Discuss other internal controls a supervisor needs to implement to ensure a strong structure.Which of the following is false about accounting information systems? A. They provide reports that people analyze. B. They prevent errors and stop employees from stealing inventory. C. They are designed to gather data about the companys transactions. D. They consist of processes that involve input of data from source documents, processing, output, and storage.1. How can internal auditors use histograms during internal audits? 2. How can management use control charts as part of their ongoing monitoring activities? 3. How can the 5S model be used during an operational audit? 4. How is transporting a waste? Provide an example to support your answer. 5. Describe the impact of defects on organizational success from an internal and external (e.g., competitive) perspective. 6. Describe three reasons why waiting is damaging to organizations. 7. Provide three recommendations to minimize the presence of underutilized employees. 8. Explain the elements of the CCCER/5C model. 9. Explain three methodologies that can help operational auditors find the root cause of operational deficiencies. 10. List three actions that can help to make findings and recommendations more persuasive
- Address the questions in perspective of auditing 1. How can internal auditors use histograms during internal audits? 2. How can management use control charts as part of their ongoing monitoring activities? 3. How can the 5S model be used during an operational audit? 4. How is transporting a waste? Provide an example to support your answer. 5. Describe the impact of defects on organizational success from an internal and external (e.g., competitive) perspective. 6. Describe three reasons why waiting is damaging to organizations. 7. Provide three recommendations to minimize the presence of underutilized employees. 8. Explain the elements of the CCCER/5C model. 9. Explain three methodologies that can help operational auditors find the root cause of operational deficiencies. 10. List three actions that can help to make findings and recommendations more persuasiveA company implements internal controls to improve the chances that employee will function according to the plans and standard operating procedures developed by the management team. Select one: True FalseAn Internal Control System will not Assists compliance with laws and regulations Helps ensure the reliability of internal and external reporting Help obtain an understanding of the business and the risks it faces Facilitates the effectiveness and efficiency of operations
- Which of the following are correct regarding why management uses internal controls? (Check all that apply.) Multiple select question. Protect assets. Uphold company policies. Ensure reliable accounting. Reduce vendor payables. Increase revenues. Promote efficient operations.Questions Explain how client internal controls can be improved through the proper installation of IT. Identify risks for accounting systems that rely heavily on IT functions. Define what is meant by an audit trail and explain how it can be affected by the client’s integration of IT. Distinguish between random error resulting from manual processing and systematic error resulting from IT processing and give an example of each category of error. Identify the traditionally segregated duties in noncomplex IT systems and explain how increases in the complexity of the IT function affect that separation. Distinguish between general controls and application controls and give two examples of each. Identify the typical duties within an IT function and describe how those duties should be segregated among IT personnel. Explain how the effectiveness of general controls affects the auditor’s tests of automated application controls, including the auditor’s ability to rely on tests done in prior…The IT Audit Director is responsible for monitoring and approving network-related changes to the company's production network. This is an appropriately designed preventive control. a) True b) False
- Which of the following is true of internal control? A. Internal control procedures tend to diminish the importance of operational efficiency. B. A company's outside auditor is responsible for the company's internal control system. C. Internal controls are only necessary for public companies. D. One of the major purposes of internal control is to ensure that the assets are safeguarded.When is more frequent monitoring of internal controls not required?* When employees are poorly trained. When the control activity and risk being managed are important. When a department is making changes to an application being used in that department. When internal controls have recently been changed to reduce the frequency of errors.A company limits access to computerized accounting records. What can be said of this procedure? a.It is a good example of physical controls. b.It violates adequate documents and records. c.It violates proper segregation of duties. d.It is a good example of independent checks on performance.