Answered: rm of financial misstatement, how is…

Business

Accounting

rm of financial misstatement, how is fraudulent s

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(This subject is about Accounting Information System.)

1. Because all fraud involves some form of financial misstatement, how is fraudulent statement fraud different?

2. Explain the problems associated with lack of auditor independence.

3. Why is an independent audit committee important to a company?

4. In this age of high technology and computer-based information systems, why are accountants concerned about physical (human) controls?

Please provide me a correct answer and PLEASE NO PLAGIARISM. Thank you!!

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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