EBA2053 Individual Assignment (56549) by Mandy Kong https://padlet.com/mandy_ee96/56549_eba2053 Accounting Information System Affecting the Accountants' Job Scope en-us 2018-03-21 05:31:20 UTC 2018-03-21 08:10:43 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Diskette.png The Role of Accountants in Accounting Information System mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244368654 2018-03-21 05:38:13 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244368654 Design of Accounting Information System (Domain Experts) mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244368839 Design of Conceptual System]]> 2018-03-21 05:40:30 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244368839 Audit of Accounting Information System mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244368892 2018-03-21 05:41:01 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244368892 Specify certain relevant criteria. mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244369110 2018-03-21 05:43:29 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244369110 Examples mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244369414
  • Operational rules
  • Financial Reporting requirements (Eg: GAAP - Generally Accepted Accounting Principles)
    • ]]>     2018-03-21 05:46:26 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244369414     Establish the objectives of internal control that the system must attain. mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244369919 2018-03-21 05:51:43 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244369919 External audits (Attestation) mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244370851 2018-03-21 05:59:46 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244370851 Internal audits (Operational audits) mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244370853 2018-03-21 05:59:48 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244370853 Fraud audit mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244370856 2018-03-21 05:59:50 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244370856 Role of accountants: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244371202 2018-03-21 06:03:11 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244371202 Determine: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244371774
  • The nature of the information required
  • The sources of the information acquired
  • The destination of the information
  • The accounting rules that need to be applied.
    • ]]>     2018-03-21 06:07:41 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244371774     Definition mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244372014 An independent attestation performed by an expert (the auditor) who expresses an opinion in the form of a formal audit report regarding the presentation of financial statements.]]> 2018-03-21 06:09:46 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244372014 Objective mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244372335 To make sure that the corporate financial statements are fairly presented by performing tests.]]> 2018-03-21 06:12:26 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244372335 Example of tests: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244372685
  • Tests of the internal control of the information system.
  • Substantive tests of data in the system's databases.
    • ]]>     2018-03-21 06:14:50 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244372685     Definition mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244374167 An independent assessment function in an organization, typically conducted by certified auditors who work for the organization.]]> 2018-03-21 06:27:19 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244374167 Examples: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244374485
  • Conduct financial audits
  • Perform IT audits (Examine an operation's compliance with organizational policy and legal obligations)
  • Assess operational efficiency
  • Detect and pursue fraud within the organization.
    • ]]>     2018-03-21 06:31:09 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244374485     Objective mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244374991 To examine and evaluate the organization's activities.]]> 2018-03-21 06:36:04 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244374991 Certified as: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244375305 CIA - Certified Internal Auditor
    CISA - Certified Information Sytems Auditor]]>     2018-03-21 06:39:03 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244375305     Example of fraud: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244375721
  • Employee theft of assets
  • Major financial frauds by management
    • ]]>     2018-03-21 06:43:12 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244375721     Objectives: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244375798
  • To investigate anomalies.
  • To gather evidence of fraud that may lead to criminal conviction.
    • ]]>     2018-03-21 06:44:04 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244375798     Methods: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244376243
  • Initiate fraud audits when employee fraud is suspected by the corporate management.
  • Hire fraud auditors to investigate the organization's own executives when theft or financial fraud is suspected.
    • ]]>     2018-03-21 06:47:55 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244376243     The role of the audit committee mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244377377 2018-03-21 06:57:23 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244377377 Definition mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244385904 A subcommittee with special responsibilities related to audit, formed by the boards of directors of publicly traded companies.]]> 2018-03-21 07:40:51 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244385904 Responsibilities mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244387456
  • Act as independent "check and balance" for internal audit function.
  • Act as a liaison with external auditors (who report to the audit committee, which hires and fires auditors and resolves disputes)
  • Look for ways to identify risk: Observe suspicious behavior, detect fra
    • ]]>     2018-03-21 07:47:20 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244387456     Members: mandy_ee96 https://padlet.com/mandy_ee96/56549_eba2053/wish/244388091
  • Consists of 3 outsiders.
  • At least one of the members is a financial expert.
    • ]]>     2018-03-21 07:49:59 UTC https://padlet.com/mandy_ee96/56549_eba2053/wish/244388091