AUO1 – Auditing and Information Systems Additional Study Questions Accounting Information Systems Competency 302.1.1: Nature and Purpose The student understands the nature and purpose of information systems. * What is the difference between transaction processing systems, management information systems, and decision support systems? Transaction processing systems - document financial activities Management information systems - used to collect qualitative as well as quantitative information
Words: 12321 - Pages: 50
te Corporate governance statement The Board of Directors is accountable to the Shareholder for the overall performance of the Group. In doing so, it is responsible for: • • • The effective, prudent and ethical oversight of the Bank; Setting the business strategy for the Bank, following consultation with the Shareholder; and Ensuring that risk and compliance are properly managed in the Bank. Board of Directors and Membership The Board of Directors recognises its responsibility for the leadership
Words: 4199 - Pages: 17
name] | | | Corporate Governance: Whistle Blower Policy | | 1. Introduction This policy seeks to define and establish the position of DLF Limited and its subsidiaries ('hereinafter referred to as the 'Company') on the framework for reporting instances of unethical/improper conduct and actioning suitable steps to investigate and correct the same. Accordingly, this policy details the following: * Procedure to disclose any suspected unethical and/or improper practice taking
Words: 2107 - Pages: 9
20th May, 2014 Important Announcement Attention: Intermediate (IPC) and Final Course students- May 2015 examinations and onwards Subject: Revision of the syllabus for May 2015 examinations and onwards pursuant to enactment of the Companies Act, 2013 As students may be aware, the Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013 stating that different dates may be appointed for enforcement of different provisions of this Act through notification of the Central Government
Words: 3005 - Pages: 13
Introduction WorldCom is a telecommunications company which was lead by CEO, Bernard Ebbers and CFO, Scott Sullivan. In 1999, WorldCom was not melting Wall Street’s revenue and earnings expectations, and it appeared that the coming year would produce more bad news. The CFO argued for setting realistic targets. However the CEO insisted that the company needed double digit growth, and pushed for aggressive targets. These aggressive targets were not supported by historical data or strategic assessments
Words: 4044 - Pages: 17
Ashley Richardson 11/15/2013 Western Governors University AUO1 – Auditing and Information Systems Additional Study Questions/ Study Guide 1. Accounting Information Systems Competency 302.1.1: Nature and Purpose The student understands the nature and purpose of information systems. * What is the difference between transaction processing systems, management information systems, and decision support systems? 2. Transaction processing systems - document financial activities
Words: 12288 - Pages: 50
Strengthening Corporate Accountability and Responsibility with Sarbanes-Oxley Act and COSO Enron, Arthur Andersen, WorldCom. What does these companies and others have in common? They involved audit and corporate governance failures, resulting in the erosion of public confidence. Because of these high-profile corporate and accounting scandals, Congress passed the Public Company Accounting Reform and Investor Protection Act, commonly known as the Sarbanes Oxley Act of 2002 (SOX). SOX mandated
Words: 1083 - Pages: 5
countries and have been adopted by the Financial Stability Forum as one of the Twelve Key Standards for Sound Financial Systems. The Principles are intended to assist in the evaluation and improvement of the legal, institutional and regulatory framework that influences corporate governance. They also provide guidance for stock exchanges, investors, corporations, and others that have a role in the process of developing good corporate governance. The Principles should be viewed as a living document
Words: 19988 - Pages: 80
CPA may receive a commission for recommending a particular computer system to an audit client. True False 8. The communications between CPAs and their clients are privileged under federal law. True False 9. CPAs can advertise the fees only for their nonattest services. True False 10. The American Institute of Certified Public Accountants has been the primary source for ethical rules for internal auditors. True False Multiple Choice Questions
Words: 7406 - Pages: 30
their control systems. The COSO framework defines internal control as a process, effected by an entity's board of directors, management and other personnel, designed to provide "reasonable assurance" regarding the achievement of objectives in the following categories: * Effectiveness and efficiency of operations * Reliability of financial reporting * Compliance with applicable laws and regulations. * Safeguarding of Assets (MHA) The COSO framework involves several key concepts:
Words: 736 - Pages: 3
