Q1.What are the main types of software? What are the advantages of open-source software? Describe the decision making process of acquiring application software. Q2.“In the end‚ information system is recognized only as a foundation for human judgment‚ insight and inventiveness”. Discuss. What are different types of controls and audits required for an information system? Q3.What is computerized maintenance management? Explain the conceptual model through which the maintenance function can achieve
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8. Which of the following should an auditor do when control risk is assessed at the maximum level? A. Perform fewer substantive tests of details. B. Perform more tests of controls. C. Document the assessment. D. Document the internal control system more extensively. 9. Which of the following is least likely to be a test of a control? A. Inquiries of appropriate personnel. B. Inspection of management’s engagement letter. C. Observation of the application of a policy. D. Reperformance of
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assertions and audit objectives - Define management assertions and the related audit objectives - Describe management assertions related to class of transactions‚ balances and presentation and disclosures - List out and describe general transaction related audit objectives‚ balance related audit objectives and presentation and disclosure audit objectives - Understand specific audit objectives and how they are linked to general audit objectives and management assertions Topic 4 – Audit evidence
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Determining Operating Systems and Software Applications BIS/320 Amazon has made a business of selling a variety media types while also making the reselling of the same media an attractive option. What better way to regain in part what you spent on media interests than to resell it and have money to put towards the next interest. As of 2004 Amazon began running the Linux operating system across the board. Amazon then became one of the largest and well known companies running the Linux
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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As the economic advisor of Lisavia‚ I believe that the president first needs to understand the four main determinants of productivity‚ if he wants to increase productivity in his own country. The first is physical capital. This means that a country must possess structures‚ tools‚ equipment and machinery to efficiently produce the goods and services. Second‚ is human capital. Citizens should be properly trained and educated according to their respectable industry as to increase production. The third
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How might you explain to Toby what your organisation’s parameters of confidentiality are? We will have to use simple and easy vocabulary to make sure that he understands that Privacy ACT 1988 is covered with strict conditions‚ and the information that we will collect is stored‚ secured and assessed according to the Act. We will explain that personal information that we are collecting is considered to be sensitive information
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Opening: A healthy immune system will give your child the ability to naturally protect against illness. Base on a healthy diet and lifestyle‚ your child’s resistance is maximized. They fight common health problems and keeping the child’s strong health. Body: 1. Breastfeeding According to a 2002 Australian study‚ breastfeeding has a positive effect on baby’s immune system development base on ingredients in breast milk that promote the growth of breast milk. Mucosal digestion and altered intestinal
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Determining Operating Systems and Software Applications Business Information Systems BIS320 Determining Operating Systems and Software Applications Since 1955 the McDonald’s Corporation has become the largest and best known fast food franchise in the world. Employing over 1.8 million employees‚ with over 34‚000 restaurants and 5000 franchises worldwide‚ McDonald’s Corporation serves over 69 million customers a day (McDonalds‚ 2013). To meet that challenge‚ McDonald’s Corporation has developed
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AN EDP ENVIRONMENT The second standard of field work requires that we obtain a sufficient understanding of the client’s internal controls (I/C) to plan the audit and assess control risk. We hope that our assessment of control risk shows it to be low so that we can reduce substantive testing‚ thereby reducing audit costs. When EDP is used in significant accounting applications‚ then you must consider the effects the computer has when evaluating the internal controls. The auditor’s approach to
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