a)
To explain: The
Introduction:
Acquiring and implementing
It describes the acquisition of a system and its phases of development and the steps involved in it. It explains the difference between purchased and in-built systems. It explains the importance of the presence of an accountant in these systems.
b)
To explain: The other control plans that might be effective controlling the system maintenance activities.
Introduction:
Acquiring and implementing accounting information systems:
It describes the acquisition of a system and its phases of development and the steps involved in it. It explains the difference between purchased and in-built systems. It explains the importance of the presence of an accountant in these systems.
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Accounting Information Systems
- Discuss several factors affecting (negatively or positively) the achievement of systems development objectives.arrow_forwardWhat is operational feasibility and what problems must management address to achieve it?arrow_forwardWhat principles are essential to an effective risk management program?arrow_forward
- Discuss the objectives of the risk management process. Why should you follow a regimented and well defined process?arrow_forwardWhich of the following is an element of the control environment? Oa. Risk assessment plans Ob. Managements' operating styles Oc. Control proceares Od. Information and communication activitiesarrow_forwardWhich of the following is the first stage to be performed in order to properly manage risks? a. Control the risk b. Identify the risk c. Analyze the risk d. Assess the riskarrow_forward
- Which of the following statements best describes the phrase, “evaluating the design of a control”? Group of answer choices A. Considering whether the control, individually or in combination with other controls, is capable of effectively preventing, or detecting and correcting, material misstatements. B. Expressing an opinion as to the effectiveness of a control. C. Observing the application of specific controls. D. Determining whether the control exists and that the entity is using it.arrow_forwardExplain why it is important to ensure that a risk control is sufficiently reliable and robust in line with the likelihood and impact of that risk. Give an example to illustrate your answer.arrow_forwardMake a critique about how to use COSO to Assess IT Controlsarrow_forward
- Define Operational risk.arrow_forwardWhich of the following is not one of the components of internal control according to the framework? a. Monitoring Activities b. Control Activities c. Planning Activities d. Risk Assessmentarrow_forwardGive correct typing answer with explanation and conclusion Are the additional costs of implementing internal controls worth it? Why or why not?arrow_forward
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