Question 1


  • Evaluate the factors of significance within the structure of an IT business with manufacturing and determine what factors influence the decision to create real-time data or batch processes. Explain your answer.
  • Recommend the implementation of controls necessary to reduce erroneous journals that could lead to financial losses for companies. If management establishes adequate controls and significant losses still occur, explain to what extent management should be held accountable under SOX.

Question 2:


  • Create an argument whether an auditor concerned with appropriate segregation of duties would use a data flow diagram or system flowchart. Defend your position.
    • From the e-Activity, assess the approach used to determine which companies are slated to begin using IFRS, indicating level of agreement with the approach. Discuss the emerging issues between U.S. Generally Acceptable Accounting Principles and International Financial Reporting Standards that must be considered in designing effective auditor tools and techniques to test controls.

E-Activity:   Review the Website for International Financial Reporting Standards (IFRS). Identify which companies are slated to begin using IFRS.  Be prepared to discuss.

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