week 6 paper - Controls for Information Technology and...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Controls for Information Technology and Reporting and Evaluation Controls for Information Technology and Reporting and Evaluation Randi Padavano ACC/544 Dr. Bunney Schmidt August 15, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Controls for Information Technology and Reporting and Evaluation Controls for Information Technology To have a successful business, one must have effective managers whom can handle every risk that is thrown at the company. Risk management helps to protect the company from any losses that may occur from poor accounting or fraudulent activities. Sufficient and effective controls will ensure that the company managers are protected against any liabilities in financial statements. The internal control process begins with management and the attitude that management portrays through the company. Managers have numerous amounts of responsibilities, such as implementing the policies and procedures. These policies and procedures will build a structure for the company that helps lead to success. This structure helps maintain and develop the internal control environment. Internal Control Reporting Options A company has three major functions of an audit report on financial statements. Within these reports it indicates whether the financial statements conform with the Generally Accepted Accounting Principles (GAAP). An auditor will use the reports to determine if there are any
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/15/2011 for the course ACC ACC taught by Professor Mari during the Fall '10 term at University of Phoenix.

Page1 / 4

week 6 paper - Controls for Information Technology and...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online