Assignment
The assignment has two parts namely Part A (20 marks) & B (20 marks). Part A will require you to answer four (4) questions. Part B will involve two (2) cases selected form your textbook, Accounting Information Systems 8th edition by James A. Hall.
The assignment aims to develop an understanding of Accounting Information Systems structure and their use in the business setting. The task is to answer questions relating to transaction processing, ethics, fraud and internal control. This assignment itself includes several assignments, each of which comprises a part of the students' task. However, it is well encouraged to include any additional information that students may think will be useful in completing the task.
General Rules and Requirements:
Reports must be confined to 3,000 words (+/- 5%). As a minimum, a title page, table of contents page (based on your report headings), introduction, conclusion and references should be included. Font type should be Arial (size 11), paragraph spacing should be 1.5. Note: Any additional material from external sources that you "copy and paste" into your report is NOT included in the word limit. Also, ensure it is appropriately referenced.
PART A
1. How does SOX affect the provision of attest and advisory services?
2. Compare and contrast the relative advantages and disadvantages of sequential, block, group, alphabetic and mnemonic codes.
3. Discuss the non accounting services that external auditors are no longer permitted to render to audit clients under SOX legislation.
4. Identify six classes of physical controls employed in the expenditure cycle and give one example of each.
Use Sox popular 190(Act)
Sarbanes oxley Act for above Question
PART B-Case Study (from your textbook)
Part B1 Case Study
Chapter 3
Ethics, Fraud and Internal Control
Bern Fly Rod Company (pp. 138-139)
Required:
Analyze Bern's situation and asses any potential internal control issues and exposures. Discuss some preventive measures this firm may wish to implement.
Part B2 Case Study
Chapter 4
The Revenue Cycle
Spice is Right Imports (Stand-Alone PC-Based Accounting System)
(pp. 203-204)
Required:
1. Analyse the physical internal control weaknesses in the system. Model your response according to the six categories of physical control activities specified in the COSO internal control model.
2. Describe the IT controls that should be place in the system.