Chapter 7 Study Guide

Chapter 7 Study Guide - Chapter 7 Study Guide General...

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Chapter 7 Study Guide General topics: Why Internal controls, what are they? Who prescribe them? Are they mandatory? What is the relation between internal control (IC) framework and other topics discussed in the chapter? What is the history of IC in business reporting? Will it be on the CPA exam? What SOX has anything to do with internal controls? Did anyone define IC and what is it? Who is responsible to have IC in place and test and maintain them? What auditors do with internal controls? What is management responsibility in having, maintaining, and reporting of internal controls? How Fraud is related to Internal Controls (SAS 99)? SAS 99 requires “active” approach for auditors to detect fraud, what does it mean? Implications of computer fraud and abuse, what was the purpose of SAS 94? What is COBIT in this chapter? Purposes and structure of Control Hierarchy Figure 7.6 Enterprise Risk Management (ERM); Exhibits 7.1., 7.2 Sarbanes-Oxley Act (SOX) Exhibit 7.4; very important parts are: Title 1, 2, 3, 4, and 5.
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This note was uploaded on 04/20/2010 for the course AIS 345 taught by Professor R during the Spring '10 term at Bryant.

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Chapter 7 Study Guide - Chapter 7 Study Guide General...

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