1. (a) What is IT governance? Describe four objectives of IT governance (b) Desc

Question

1. (a) What is IT governance? Describe four objectives of IT governance
(b) Describe the relationship between the risk assessment and control activities
components of the COSO framework.

2. By completing the table below, identify whether each of the following
accounting positions or duties involves authorization, recording, or
custody

Positions/Duties Recording, or authorization, or custody?
cashier
payroll processor
credit clerk
mailroom clerk
data entry clerk
deliver paychecks
deliver the bank deposit
prepare the bank reconciliation
check signer
inventory warehouse supervisor

3. There are different information systems development methodologies.

Are these methodologies mutually exclusive? Why?

Identify the ways that prototyping can be used to overcome two problems with SDLC

Explanation / Answer

Q2.
cashier - recording
payroll processor - recording
credit clerk - recording
mailroom clerk - recording
data entry clerk - recording
deliver paychecks - custody
deliver the bank deposit - custody
prepare the bank reconciliation - authorization
check signer - authorization

Q3.
Different methodologies are mutually exclusive. Each of different methodologies (e.g. Waterfall, Prototyping, Incremental, Spiral, Rapid application development, Extreme Programming, etc...) is best suited to specific kinds of projects based on different technical, organizational, project and team considerations.

- Prototyping helps to reduce time and costs by improving the quality of the requirements and specifications provided to the developers. Any changes made in the system won't cause the cost to change exponentially more. It results in faster and less expensive software.
- Prototyping encourages user involvement. Improved user involvement can allow users to test the prototype and give them a chance to provide feedback and specifications.

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