Questions from Accounting Information Systems

Q: Why is it necessary for a CPA to be prohibited from having

Why is it necessary for a CPA to be prohibited from having financial or personal connections with a client? Provide an example of how a financial connection to a company would impair an auditor’s obje...

Q: From an internal control perspective, discuss the advantages and disadvantages of

From an internal control perspective, discuss the advantages and disadvantages of using IT‐based accounting systems.

Q: What are some examples of turnaround documents that you have seen?

What are some examples of turnaround documents that you have seen?

Q: Kim and Kresiki are assigned to perform the audit of Ying &

Kim and Kresiki are assigned to perform the audit of Ying & Yang’s Yoga Company. During the audit, it was discovered that the amount of sales reported on Ying & Yang’s income statement was understated...

Q: One of the most important tasks of the planning phase is for

One of the most important tasks of the planning phase is for the auditor to gain an understanding of internal controls. How does this differ from the tasks performed during the tests of controls phase...

Q: How is it possible that a review of computer logs can be

How is it possible that a review of computer logs can be used to test for both internal access controls and external access controls? Other than reviewing the computer logs, identify and describe two...

Q: Explain why continuous auditing is growing in popularity. Identify and describe

Explain why continuous auditing is growing in popularity. Identify and describe a computer assisted audit technique useful for continuous auditing.

Q: Distinguish between the various service organization controls (SOC) reporting options

Distinguish between the various service organization controls (SOC) reporting options available to auditors who evaluate cloud computing service providers.

Q: Describe what is likely to occur if company personnel erroneously recorded a

Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cash receipt were applied to the wrong customer? Identify internal cont...

Q: Debate the logic used in the following statement: The person responsible

Debate the logic used in the following statement: The person responsible for handling cash receipts should also prepare the bank reconciliation because he is most familiar with the deposits that have...