Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Chapter 1 3 Accounting Information Systems and Internal Controls ( AIS and Internal Controls ) 1 . While performing a review of business controls in
Chapter Accounting Information Systems and Internal Controls AIS and Internal Controls While performing a review of business controls in accounts payable, you have discovered a control issue. Segregation of accounting duties is not being upheld as the accounts payable clerks also have the ability to create and delete vendors in the computer system. Explain the control concernbusiness risk so the IT group, responsible to correct the issue, will understand the business need. Using the information from the Chapter Appendix explain how the different environments development, test, and production are used for systems development. Why does a firm need a code of ethics? Is it important to corporate governance? How does a delegation of authority guideline and clear organization chart support corporate ethics? Three main functions of internal control are prevention, detection and correction of errors and fraud. Provide an example of a preventive control that may be used to ensure journal entries are correct. Provide an example of a detective control that may be used to ensure correct balances in general ledger accounts.
Chapter Accounting Information Systems and Internal Controls
AIS and Internal Controls
While performing a review of business controls in accounts payable, you have discovered a control
issue. Segregation of accounting duties is not being upheld as the accounts payable clerks also have the
ability to create and delete vendors in the computer system. Explain the control concernbusiness risk
so the IT group, responsible to correct the issue, will understand the business need.
Using the information from the Chapter Appendix explain how the different environments
development, test, and production are used for systems development.
Why does a firm need a code of ethics? Is it important to corporate governance? How does a
delegation of authority guideline and clear organization chart support corporate ethics?
Three main functions of internal control are prevention, detection and correction of errors and fraud.
Provide an example of a preventive control that may be used to ensure journal entries are correct.
Provide an example of a detective control that may be used to ensure correct balances in general ledger
accounts.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started