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accounting information systems

Questions and Answers of Accounting Information Systems

Which of the following statements are true?a. IT developments such as virtualization, Cloud computing, and the Internet of Things weaken information security.b. A large number of emergency changes is
ABC bank wants to strengthen the security of its online bill-pay features. Therefore, it decides that in addition to a password, users must also correctly identify a picture that they have previously
What are the differences between high-performing organizations and medium- and low-performing organizations in terms of normal operating performance? Detection of security breaches? Percentage of
The system employs a compatibility test to decide whether to let a particular employee update records in a particular file. The compatibility test is a part of the aspect of access control referred
Explain how the following items individually and collectively affect the overall level of security provided by using a password as an authentication credential.a. Lengthb. Complexity requirements
a. Use the following facts to assess the time-based model of security for the ABC Company; how well does the existing system protect ABC? Assume that the best-, average-, and worst-case estimates are
Which of the following combinations of credentials is an example of multifactor authentication?a. voice recognition and a fingerprint readerb. a PIN and an ATM cardc. a password and a user IDd. all
Describe what a man-trap is. Explain how it contributes to information security.
Identify three ways users can be authenticated, and give an example of each.
Explain the value of penetration testing.
Security awareness training is necessary to teach employees “safe computing” practices. The key to effectiveness, however, is that it changes employee behavior. How can organizations maximize the
Describe the function of a computer incident response team (CIRT) and the steps that a CIRT should perform following a security incident.
The following table lists the actions that various employees are permitted to perform:EMPLOYEE PERMITTED ACTIONS Able Check customer account balances Check inventory availability Baker Change
Which controls were used by almost all high-performing organizations, but were not used by any low- or medium-performers?
Describe the nature, scope, and objectives of audit work, and identify the major steps in the audit process.
Gerber and E. R. Feldman, “Is Your Business Prepared for the Worst?” Journal of Accountancy(April 2002): 61–64.
Which of the following approaches to the issue of availability produces the smallest RTO and RPO?a. Hot siteb. Cold sitec. Real-time mirroringd. All of the above result in the same RTO and RPO
Which of the following disaster recovery options is most appropriate when the values for both RTO and RPO are 2 days or longer?a. Hot siteb. Cold sitec. Real-time mirroring 7 Which measure is
An organization leases a building that is prewired for both telephone and Internet access.It installs 30 servers and 25 desktop machines, to be used as a test environment. However, in the event that
Fault tolerance procedures/devices/controls contribute to achieving the system reliability objective referred to as .a. confidentialityb. privacyc. processing integrityd. availabilitye. security
Which of the following statements is true?a. If a company needs to keep a copy of tax-related data about the costs of its manufacturing facility indefinitely, it should archive that information.b.
A company makes full backups every Friday night and partial backups on Mondays, Tuesdays, Wednesdays, and Thursdays. Which of the following is true?a. On Wednesday, it would take less time to do an
A tsunami destroys an organization’s headquarters, primary data center, and its main warehouse. Which of the following documents would contain instructions on how to respond to that problem?a.
The ABC Company runs two shifts, from 8:00 am to midnight. Backups and system maintenance are performed between midnight and 8:00 am. For each of the following scenarios, determine whether the
McCarthy, “The Best-Laid Plans,” Journal of Accountancy (May 2004): 46–54.
Myers, “Katrina’s Harsh Lessons,” Journal of Accountancy (June 2006): 54–63.
Phelan and M. Hayes, “Before the Deluge—and After,” Journal of Accountancy (April 2003):57–66.
The final section of the article asks you to examine the formulas to see if they are correct. Did you find any logic errors? Explain.
The final paragraph of the section “Other ErrorChecking Tips” asks whether there remain any other cells that have values amid a column of formulas. Did you find any?
Write a data validation rule that would prevent the kind of error that exists in cell U53, so that you do not have to rely on manually identifying such an error and manually correcting it.
In the section “Other Error-Checking Tips,” the article points out that the formula for dropping the lowest score ignores blanks. Instead of doing the nonpermanent solution described in the
When you used the “Error Checking” tool, which cells did Excel find? For which of those cells did Excel suggest the correct solution? For which cells did you decide to ignore Excel’s error
Explain the nature of the circular reference in the original formula in cell AB6.
Which cells are affected by the error in cell AL4?
How do you know when the “Trace Precedents”rule has located the cell that contains the source of a chain of errors?
Drew and K. Tysiac, “Preparing for Disaster,” Journal of Accountancy (May 2013): 26–31.
Excel Problem Create data validation rules in a spreadsheet to perform each of the following controls:a. Limit check—that values in the cell are less than 70b. Range check—that values in the cell
MonsterMed Inc. (MMI) is an online pharmaceutical firm. MMI has a small systems staff that designs and writes MMI’s customized software. The data center is installed in the basement of its
Define and contrast between a recovery point objective and a recovery time objective.
What is the name of the basic option for replacing IT infrastructure that is in an empty building, prewired for necessary telephone and Internet access, and a contract with one or more vendors to
Which of the following is an example of the kind of batch total called a hash total?a. the sum of the purchase amount field in a set of purchase ordersb. the sum of the purchase order number field in
A transposition error occurs when numbers of two adjacent columns are inadvertently exchanged (for example, 64 is written instead of 46). This error can be mitigated witha. input controls.b.
Which stage of a process involves pre-numbering all source documents to preserve the processing integrity?a. inputb. processingc. output
Identify and explain controls designed to ensure systems availability by minimizing the risk of system downtime and enabling efficient recovery and resumption of operations.
Identify and explain the input, processing, and output controls designed to ensure processing integrity.
What is the relationship between GAPP principles 9 and 10?
Discuss how cloud computing could both positively and negatively affect system availability.
Excel Problem Enter the data below into a spreadsheet, and then perform the following tasks:EMPLOYEE NUMBER PAY RATE HOURS WORKED GROSS PAY DEDUCTIONS NET PAY 12355 10.55 38 400.90 125.00 275.90
Excel Problem The Moose Wings Cooperative Flight Club owns a number of airplanes and gliders.It serves fewer than 2,000 members, who are numbered sequentially from the founder, Tom Eagle (0001), to
An application control that compares the amount of an employee’s raise to that employee’s existing salary is called a(n) .a. limit checkb. range testc. reasonableness testd. check digit
A data entry application control that is designed to ensure that the total debits in a journal entry equal the total credits is called a .a. sign checkb. hash totalc. reasonableness checkd.
Which input control is designed to prevent a buffer overflow attack?a. Size checkb. Reasonableness testc. Range checkd. Field check
Testing whether or not all employees are being paid at least the minimum wage would be an example of a(n) .a. reasonableness testb. sign checkc. check digit verificationd. limit check
Which type of batch total would detect the fact that three time cards got lost during processing, which meant that three employees did not receive a paycheck?a. Financial totalb. Record countc. Hash
A sales representative mistakenly entered 382469 instead of 328469 in the customer number field. Which type of control would be most effective in preventing this type of problem?a. Turnaround
Which control would most likely be applied to ensure accuracy of the data entered in the quantity sold field in a sales transaction?a. sign checkb. sequence checkc. zero-balance testd. validity
An employee who is paid a salary of $50,000 submitted a request to withhold $50 per paycheck in voluntary deductions to a 401(K) plan. The next weekly paycheck was for a net amount of $50. The
The first column in Table 10-3 lists transaction amounts that have been summed to obtain a batch total. Assume that all data in the first column are correct. Cases A through D each contain an input
What does GAPP principle 8 state concerning the use of encryption?
To what extent can and should products be customized to individual customers’ needs and desires?
The third objective in an IS audit is ensuring proper program modification. Select all of the following controls that would be effective in minimizing the program modification threats faced by an
The second objective in an IS audit is ensuring proper program development and acquisition. Select all of the following controls that would be effective in minimizing the program development and
The first objective in an IS audit is ensuring the overall security of the system. Select all of the following controls that would be effective in minimizing the overall security threats faced by an
A four-part, risk-based audit approach provides a framework for conducting information system audits. Performing a systems review is done in which of the four parts?a. Determine the threats
With respect to evaluating audit evidence, which of the following statements is false?a. The auditor evaluates the evidence gathered and decides whether it supports a favorable or unfavorable
With respect to audit planning, which of the following statements is false?a. It determines why, how, when, and by whom the audit will be performed.b. Among the final steps in audit planning is
Which of the following should have the primary responsibility to detect and correct data processing errors? Explain why that function should have primary responsibility and why the others should
You are auditing the financial statements of a cosmetics distributor that sells thousands of individual items. The distributor keeps its inventory in its distribution center and in two public
The fixed-asset master file at Thermo-Bond includes the following data items:Asset number Date of retirement (99/99/2099 for assets still in service)Description Depreciation method code Type code
The fourth objective in an IS audit is ensuring accurate computer processing. Select all of the following controls that would be effective in minimizing the computer processing threats faced by an
The fifth objective in an IS audit is ensuring accurate source data. Select all of the following controls that would be effective in minimizing the threats to source data in an information system.a.
According to GAPP principle 7, what should organizations do if they wish to share personal information they collect with a third party?
How could AOE improve its cash collection procedures?
How can AOE improve its monitoring of credit accounts? How would any changes in credit policy affect both sales and uncollectible accounts?
How could AOE identify its most profitable customers and markets?
How could AOE improve customer service? What information does marketing need to perform its tasks better?
Explain the cash collections process, key decisions that need to be made and threats to that process, and describe the controls that can be used to mitigate those threats.
Explain the billing process, key decisions that need to be made and threats to that process, and describe the controls that can be used to mitigate those threats.
Explain the shipping process, key decisions that need to be made and threats to that process, and describe the controls that can be used to mitigate those threats.
Explain the sales order entry process, key decisions that need to be made and threats to that process, and describe the controls that can be used to mitigate those threats.
Describe the basic business activities in the revenue cycle and discuss the general threats to that process and the controls that can be used to mitigate those threats.
Melinda Robinson, the director of internal auditing at Sachem Manufacturing Company, believes the company should purchase software to assist in the financial and procedural audits her department
Robinson’s Plastic Pipe Corporation uses a data processing system for inventory. The input to this system is shown in Table 11-7. You are using an input controls matrix to help audit the source
The focus of an operational audit is on which of the following?a. reliability and integrity of financial informationb. all aspects of information systems managementc. internal controlsd. safeguarding
Reperformance of calculations is part of the collection of evidence process.a. Trueb. False
Auditing is the systematic process of obtaining and evaluating evidence regarding assertions about economic actions and events in order to determine how well they correspond to the established
What can be done to find the error in the program?
Is this an inadvertent error, or could it be a fraud?
How could a programming error of this significance be overlooked by experienced programmers who thoroughly reviewed and tested the new system?
Describe the nature and scope of an operational audit.
Describe computer audit software, and explain how it is used in the audit of an AIS.
Auditing an AIS effectively requires that an auditor have some knowledge of computers and their accounting applications. However, it may not be feasible for every auditor to be a computer expert.
How is a financial audit different from an information systems audit?
The application controls of a company you are auditing are indicated to be good by their senior internal auditor. You have serious doubts about this because of the audit process. The test data
You are involved in the audit of accounts receivable, which represent a significant portion of the assets of a large retail corporation. Your audit plan requires the use of the computer, but you
As an internal auditor, you have been assigned to evaluate the controls and operation of a computer payroll system. To test the computer systems and programs, you submit independently created test
You are the director of internal auditing at a university. Recently, you met with Issa Arnita, the manager of administrative data processing, and expressed the desire to establish a more effective
What is test data processing? Explain how it is done, and list the sources that an auditor can use to generate test data.
When performing an information systems audit, auditors must review and evaluate the program development process. What errors or fraud could occur during the program development process? Briefly
Lou Goble, an internal auditor for a large manufacturing enterprise, received an anonymous note from an assembly-line operator who has worked at the company’s West Coast factory for the past 15

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