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What are some of the risks of placing the decision of what, when and where to buy
solely at the discretion of the purchasing agent?
Name and explain the purpose of the three major subsystems of the AIS:
Discuss the edits that are programmed into a system to minimize the risk for data input
errors.
Malicious and destructive programs cause millions of dollars of loss to corporations
annually.
What are some of the intangible benefits that may be expected from the new system?
Discuss their importance and why they are difficult to interpret.
Auditor independence under SOX includes categories of services that a public
accounting firm cannot perform for a client. List five prohibited functions.
Explain the steps needed to process a credit memo in the sales return system.
SAS 109 requires auditors obtain an understanding of an organization's control
environment. Discuss two techniques that may be used to obtain such understanding.
List three pairs of system functions that should be separated in the centralized computer
services organization. Describe a risk exposure if the functions are not separated.
The POS environment places both cash and inventory at risk.
