1. How are computers and technology being used to improve productivity in a comp
ID: 1174313 • Letter: 1
Question
1. How are computers and technology being used to improve productivity in a company? Be specific and provide examples 2. Perform a SWOT analysis on the future of computer information technology in business Note: You may want to review Chapter 14 and the video SWOT Analysis How to Perform One for Your Q (Select the link to view the video) Strengths Opportunities Threats 3 How does accounting help determine the financial heath of a company? Wat basic fnancial statements are used and how do they refect the inancial condition d business? 4. From the perspective of a small business owner, discuss the banking and financial systems and business fnancingExplanation / Answer
1. One problem with internal auditing is that it is akin to self-regulation (i.e., the auditor cannot be impartial because both the auditor and the subsystem being audited work for the same company). True
2. Both the internal audit and the external audit have the same primary objective (i.e., to verify that the financial records of the company have been prepared according to generally accepted accounting principles). False, internal audit focus more on operational efficicency, whereas external audit verify the financial records
3. Many of the assurance services auditors offer today involve information technology. True
4. The main objective of information technology auditing is to evaluate the computer’s role in achieving audit and control objectives. True
5. If control procedures over a company’s computerized financial accounting system are particularly strong, auditors will not need to perform any substantive testing. False, they stiill have to perform substantive testing.
6. Computer assisted audit techniques are used primarily when auditing around the computer. True
7. A career in information technology auditing requires both specialized skills and a broad-based set of technical knowledge. true
8. Certified Information Systems Auditors must have an accounting degree. True
9. The focus in an audit should be primarily on business risk rather than on internal control. false, the focus should be on both
10. An information systems risk assessment is as concerned with errors and accidents as it is with fraud. True
11. When the costs of protecting against a business risk exceed the cost of the risk multiplied by its probability, an auditor will generally recommend against installing the specific control. False, when the cost exceeds its benefits, only then uditor will generally recommend against installing the specific control
12. Public companies are required to adopt the Control Objectives for Information and Related Technology framework under SOX. true
13. The Electronic Systems Assurance and Control model provides a framework for evaluating controls over email systems. True
14. An auditing around the computer approach pays little or no attention to the control procedures within an IT environment. False, it pays attention to control procedures within an IT environment
15. Normal transactions rather than exception transactions are of most interest to auditors. false, exception transactions are of most interest to auditors
16. Embedded audit modules and audit hooks are examples of continuous auditing techniques. TrueY
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.