Chapter 6 post version

Chapter 6 post version - ACCOUNTING INFORMATION SYSTEMS...

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ACCOUNTING INFORMATION SYSTEMS Chapter 6 – Internal Control  Systems
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What is an Internal Control?
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Objectives of the Internal  Control Structure 1. 2. Checking the accuracy and reliability of accounting data. 3. Promoting operational efficiency. 4. Encouraging adherence to managerial policies.
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Control Procedures Analyzed Control Procedures may be classified according to their intended uses in a system:
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History of Internal Controls Foreign Corrupt Practices Act 1977, p. 193.
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History 1992 Committee of Sponsoring Organizations (COSO) Report, p. 195.
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Components of Internal  Control per COSO, p. 196.
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Control Environment Integrity, ethical values and competence of employees. Assignment of authority and responsibility.
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Risk Assessment When designing controls for a company, consideration must be given to the risk factor by a process called ______________ . Risk assessment recognizes that every
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This note was uploaded on 09/18/2009 for the course BUSACC 1236 taught by Professor Hughes during the Fall '09 term at Pittsburgh.

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Chapter 6 post version - ACCOUNTING INFORMATION SYSTEMS...

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