Reference no: EM13376753

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:

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? (5 marks)

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. (5 marks)

4. Identify six classes of physical controls employed in the expenditure cycle and give one example of each.

Sarbanes   oxley Act for above Question

PART B-Case Study

Part B1 Case Study

Ethics, Fraud and Internal Control

Bern Fly Rod Company

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)

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.