class10 - 33:010:458 33:010:458 Accounting Information...

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Unformatted text preview: 33:010:458 33:010:458 Accounting Information Accounting Information Systems Systems r. Peter R. Gillett Dr. Peter R. Gillett Associate Professor Department of Accounting, Business Ethics and Information Systems Rutgers Business SchoolNewark and New Brunswick Accounting Information Systems A.I.S. Class 10: Outline A.I.S. Class 10: Outline Learning Objectives for Chapter 10 Controls Misstatements Internal Control Structure Control Objectives and Audit Objectives COBIT Events and Event Risks Group Project Internal Control Documentation October 5, 2009 Dr. Peter R. Gillett 2 Group Work for Chapter 10 October 5, 2009 Dr. Peter R. Gillett 2 Accounting Information Systems Learning Objectives for Chapter 10 Learning Objectives for Chapter 10 After studying this chapter you should be able to: * provide a basic distinction between general and application controls as categories of controls * provide a definition of controls * explain the concepts of exposure and reasonable assurance as they relate to controls * xplain the difference between preventive detective and explain the difference between preventive, detective, and corrective controls * describe and discuss a number of risks that could be found in computer based systems * discuss the essence of Sarbanes-Oxley and its impact on internal controls * discuss Statement on Auditing Standards (SAS) No. 55 and 78 and their implications for controls in information systems October 5, 2009 Dr. Peter R. Gillett 3 October 5, 2009 Dr. Peter R. Gillett 3 Accounting Information Systems Learning Objectives for Chapter 10 Learning Objectives for Chapter 10 After studying this chapter you should be able to: * describe general control procedures for database oriented systems environments * describe application controls that can be incorporated into a database AIS * indicate some control procedures that can be instituted only in on line database systems * explain how entity integrity and referential integrity contribute to better control in a database AIS * explain the hierarchical nature of the relationship between the ntrol environment the accounting system general and control environment, the accounting system, general and application control procedures * briefly describe the COBIT control framework released by the Information Systems Audit and Control Association October 5, 2009 Dr. Peter R. Gillett 4 October 5, 2009 Dr. Peter R. Gillett 4 Accounting Information Systems Controls Controls Controls are mechanisms to prevent or detect errors and irregularities Risk is the likelihood that an information system will experience errors or irregularities Exposure is the amount of loss that could occur if a risk is realized Controls are designed to provide reasonable assurance that data are error free October 5, 2009 Dr. Peter R. Gillett 5 October 5, 2009 Dr. Peter R. Gillett 5 Accounting Information Systems Controls Controls Preventive v. detective * Largely a matter of timing...
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class10 - 33:010:458 33:010:458 Accounting Information...

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