• Review the report of the independent registered public accounting firm on internal controls. Explain components of the report that meet the criteria established inInternal Control Integrated Frameworkissued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the PCAOB.
• Explain managements responsibility relative to internal controls and maintaining the integrity of the accounting information systems.
• Discuss the implications of computer technology on the internal control structure and auditing procedures. Develop data flow diagrams and accounting cycle flow charts that illustrate the relationship between information systems and the accounting process.
• Describe at least two audit tests and procedures designed specifically to assess control risks and the integrity of internal controls over accounting information systems.