Discuss the general functionality and critical elements

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Reference no: EM133492677

Description:

Explain how to use Amazon as a publicly traded company in the U.S. Securities and Exchange Commission (SEC) EDGAR System

Explain the Annual Report (Form 10K) and Proxy Statement (Form DEF 14A) of the Amazon company for the immediate past fiscal year. Review these documents and other financial information available on the company's Investor Relations Web site to evaluate the following items. Please note that each student must research a different company.

Internal Controls

Review the report of the independent registered public accounting firm on internal controls. Explain components of the information that meet the criteria established in the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the PCAOB.

Explain management's responsibility relative to internal controls and maintaining the integrity of the accounting information systems.

Discuss the implications of computer technology on the internal control structure and auditing procedures. Develop data flow diagrams and accounting cycle flow charts illustrating the relationship between information systems and the accounting process.

Describe at least two audit tests and procedures designed specifically to assess control risks and the integrity of internal controls over accounting information systems.

Accounting Information System

Summarize the primary information flows within the business environment and evaluate the relationship between traditional accounting records and their magnetic equivalents in computer-based systems.

Explain and analyze the differences between batch and real-time processing and the impact of these technologies on transaction processing.

REA Approach

Explain the benefits of adopting an REA approach to information systems compared to a traditional approach.

Discuss the general functionality and critical elements of ERP systems and understand the key considerations and risks associated with ERP implementation.

Explain the Internal control system, its role in a business, and its significance in auditing.

Discuss the use of computer-assisted auditing techniques within GAAS, PCAOB, and COSO requirements for audits of publicly traded companies.

Reference no: EM133492677

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