Accounting Information Systems
10th Edition
ISBN: 9781337619202
Author: Hall, James A.
Publisher: Cengage Learning,
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Question
Chapter 4, Problem 6P
a.
To determine
Discuss the physical control weaknesses depicted in the flow chart.
b.
To determine
Discuss the IT controls that placed in given flow chart.
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a. Identify the physical control weakness depicted in the flowchart for Problem 2
b. Describe the IT controls that should be in place in this system
INTERNAL CONTROL
Examine the flowchart below and determine any control threats. Specifically discuss the control problems, the possible dangers, and any corrective procedures you would recommend.
Required:
a. Create a document flowchart of the existing system.
b. Analyze the internal control weaknesses in the system. Model your response according to the six categories of physical control activities specified in SAS 78.
1.Transaction Authorization
2.Segregation of Duties
3.Supervision
4.Accounting Records
5.Access Control
6.Independent Verification
Chapter 4 Solutions
Accounting Information Systems
Ch. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - What function does the receiving department serve...Ch. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - Distinguish between an edit run, a sort run, and...
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - In a manual system, after which event in the sales...Ch. 4 - Prob. 18RQCh. 4 - What document initiates the billing process?Ch. 4 - Prob. 20RQCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - What financial statement misrepresentations may...Ch. 4 - Prob. 10DQCh. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - How is EDI more than technology? What unique...Ch. 4 - Prob. 17DQCh. 4 - Prob. 1MCQCh. 4 - Prob. 2MCQCh. 4 - Prob. 3MCQCh. 4 - Prob. 4MCQCh. 4 - Prob. 5MCQCh. 4 - Prob. 6MCQCh. 4 - Prob. 7MCQCh. 4 - Prob. 8MCQCh. 4 - Prob. 9MCQCh. 4 - Prob. 10MCQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - In 1989, Robert Smith opened a small fruit and...Ch. 4 - Posavek is a wholesale supplier of building...Ch. 4 - Prob. 3ICCCh. 4 - (Prepared by Will Richens and Michael Catchpole,...Ch. 4 - Prob. 6ICC
Knowledge Booster
Similar questions
- The control environment is seen as the foundation for all other components of internal control. (T/F)arrow_forwardRefer to the system flowchart labeled Problem 4.Requireda. Discuss the uncontrolled risks associated with the systems as currently configured. b. Describe the controls that need to be implemented into the system to mitigate the risks in thegiven scenario.arrow_forwardINTERNAL CONTROLS AND FLOWCHART ANALYSIS a. Identify the physical control weaknesses depicted in theflowchart for Problem 2.b. Describe the IT controls that should be in place in this system.arrow_forward
- What element of internal control would include the setting of "tone at the top"? a.control environment b.risk assessment c.monitoring d.control activitiesarrow_forwardWhat are the advantages and disadvantages of documenting internal control by using (1) an internalcontrol questionnaire, (2) a narrative memorandum, and (3) a flowchart?arrow_forwardList and explain briefly the phases of an internal control evaluation.arrow_forward
- How testing transaction as appropriate in internal control system?arrow_forwardc. Analyze the phrysical internal control weaknewesin the systemd. (Optional) Prepare a system Mowchart of a rode-signed computer- based system that resolves thecontrol acakneses that you identified._ Explainyour solution.arrow_forwardUsing the flowchart provided below, identify control problems, related risks of the problem and corrective actions to mitigate the risk. Format: Problem Risk Controlarrow_forward
- Which of the following is not one of the elements of a good system of internal control? a.Control environment b.Analysis of control procedures c.Information and communication d.Risk assessmentarrow_forwarddescribe the uncontrolled risks in the system in risk analysis and internal controlarrow_forwardWhich of the following is a component of general controls? a. processing controls b. output controls c. back-up and contingency planning d. input controls Required: choose the correct answer and Justify your answers in at least 6 sentences.arrow_forward
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