Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Chapter 12, Problem 7DQ
Summary Introduction
To discuss: The given statement.
Introduction:
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Do you agree with the statement, ‘‘The term IT auditor should be considered obsolete because it implies a distinction between regular auditors and auditors who examine computerized AIS’’? Why or why not?
Computers remove a fundamental separation of functions between authorizing and processing transactions, and there is also a risk of the integrity of accounting records. What do you think, how can management control these risks?
Do you agree with the statement “The term IT auditor should be considered obsolete because implies a distinction between regular auditors and auditor who examine computerized of accounting information system. Please state the reason why or why not.
Chapter 12 Solutions
Accounting Information Systems
Ch. 12 - Prob. 1RQCh. 12 - What primary functions does the purchasing process...Ch. 12 - Prob. 3RQCh. 12 - What are the fundamental responsibilities of each...Ch. 12 - Describe supply chain management (SCM).Ch. 12 - Prob. 6RQCh. 12 - Prob. 7RQCh. 12 - Prob. 8RQCh. 12 - Prob. 9RQCh. 12 - Prob. 10RQ
Ch. 12 - Prob. 11RQCh. 12 - What types of frauds are typically found in the...Ch. 12 - What are the typical effectiveness goals of the...Ch. 12 - What characterizes a valid PO input? What...Ch. 12 - Prob. 15RQCh. 12 - Describe the impact that entity-level controls...Ch. 12 - Refer to the operations process (effectiveness)...Ch. 12 - Explain why ambiguities and conflicts exist among...Ch. 12 - Prob. 3DQCh. 12 - Without redrawing the figures, discuss how Figure...Ch. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 1SPCh. 12 - Prob. 2SPCh. 12 - Prob. 3SPCh. 12 - Prob. 4SPCh. 12 - Prob. 4PCh. 12 - Prob. 5PCh. 12 - Prob. 6P
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- Give one reason why performing advisory services could enhance audit quality. Give one reason why performing advisory services could weaken audit quality. Do you think performing advisory services for audit clients should be restricted? Why or why not?arrow_forwardWhy do you think audit firms are willing to accept high-risk clients?arrow_forwardWhy do fraud examiners handle information in a different manner than auditors? Why is thisimportant?arrow_forward
- Why do we consider risk assessment the foundation of the internal audit function? To safeguard independence, many internal audit departments continue to perform risk assessments in a silo, without collaborating with and leveraging the work of ERM. Do you agree with this approach?arrow_forward“Performance reports based on controllability are impossible. Nobody really controls anything in an organization!” Do you agree or disagree? Explain your answer.arrow_forwardGive some instances of the dangers to the independence of an external auditor in your explanation.arrow_forward
- If a firm decides early to go with a special-purpose system, such as SAP, based upon the recommendations of the external audit firm, should the SDLC be bypassed?arrow_forwardEnron's governance system failed to work properly. Provide at least two examples of this failure and why it failed.arrow_forwardAudit working papers are the property of the auditors, who may distort the papers, sell them, or give them to third part. Is this statement true or false? Justify with your explanation.arrow_forward
- Controls that enhance the accuracy and reliability of the accounting records are automated controls. external controls. physical controls. none of these answer choices are correct.arrow_forwardAuditors of ERP systemsa. need not be concerned about segregation of duties because these systems possess strong computer controls.b. focus on output controls such as independent verification to reconcile batch totals.c. are concerned that managers fail to exercise adequate care in assigning permissions.d. do not see the data warehouse as an audit or control issue at all because financial records are not stored there.e. need not review access levels granted to users because these are determined when the system is configured and never change.arrow_forwardIn Crazy Eddie, the auditors’ work plan and results were viewed by the client, in part because the security of their workpapers was inadequate. Why is protecting the audit work product so important? In today’s audit environment, what should auditors do to protect their work product? What might auditors do in today’s audit environment that could expose their work product to individuals not engaged in the audit?arrow_forward
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