Reflection and Self Assessment for AIS

Accounting Information Systems

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Reflection and Self-assessment 18.1 What type of audit is indicated by each of the following descriptions? Justify your choices, particularly if more than one type of audit seems applicable. a. Ray and Gary, partners in a psychotherapy practice, hire Rob to determine if their secretary has been embezzling cash. This type of audit would be an investigative audit. It could also conceivably be an operational audit, depending on the evidence presented to the firm doing the audit. If the firm receives very little evidence of fraud upon being hired, the firm may choose to do an operational audit to find any odd or peculiar procedures to see if the secretary is doing following procedures, and then go into an investigative audit. b. An internal auditor works with managers in the purchasing department to determine a more efficient way to handle inventory transactions. This would be an operational audit on the whole. The goal on this audit would be to determine if the policies and procedures in place are practical and beneficial to the
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This note was uploaded on 08/09/2011 for the course ACNT 2332 taught by Professor Unknown during the Summer '10 term at HCCS.

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Reflection and Self - Reflection and Self-assessment 18.1 What type of audit is indicated by each of the following descriptions particularly if

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