Karteikarten
Control/Accounting Information Systems
Karten in diesem Stapel (12)
- 1Control Types1. Preventive
2. Detective
3. Corrective - 2Preventive controlsDeter problems from occurring
- 3Detective controlsDiscover problems that are not prevented
- 4Corrective controlsIdentify and correct problems; correct and recover from the problems
- 5Control FrameworksCOBIT: Framework for IT control
COSO: Framework for enterprise internal controls (control- based approach)
COSO-ERM: Expands COSO framework taking a risk-based approach - 6Control EnvironmentManagement’s philosophy, operating style, and risk appetite
• Commitment to integrity, ethical values, and competence
• Internal control oversight by Board of Directors
• Organizing structure
• Methods of assigning authority and responsibility
• Human resource standards - 7Risk assessmentRisk is assessed from two perspectives:
• Likelihood: Probability that the event will occur
• Impact: Estimate potential loss if event occurs
Types of risk:
Inherent: Risk that exists before plans are made to control it
• Residual
– Risk that is left over after you control it - 8Risk responseReduce: Implement effective internal control
• Accept: Do nothing, accept likelihood, and impact of risk
Share: Buy insurance, outsource, or hedge
Avoid: Do not engage in the activity - 9Control ActivitiesProper authorization of transactions and activities
• Segregation of duties
• Project development and acquisition controls
• Change management controls
• Design and use of documents and records
• Safeguarding assets, records, and data
• Independent checks on performance - 10Information and CommunicationThere are three principles that apply to the information and communication process:
1. Obtain or generate relevant, high-quality information to support internal control.
2. Internally communicate the information, including objectives and responsibilities, necessary to support the other components of internal control.
3. Communicate relevant internal control matters to external parties. - 11MonitoringPerform internal control evaluations (e.g., internal audit)
• Implement effective supervision
• Use responsibility accounting systems (e.g., budgets)
• Monitor system activities
• Track purchased software and mobile devices
• Conduct periodic audits (e.g., external, internal, network security)
• Employ computer security officer
• Engage forensic specialists
• Install fraud detection software
• Implement fraud hotline - 12—
Informationen
- Beschreibung
- Accounting Karteikarten am Control/Accounting Information Systems, erstellt von Jack Fogel am 08/04/2024.
- Erstellt von
- Jack Fogel
- Aufrufe
- 1
- Bewertung