230,433 research outputs found
Interviewing the Client
This paper examines an assignment where students taking either an introductory auditing students or an accounting communications course interview a client to gain an understanding of internal control and the interview process. Students document the results of the interview in a memorandum. The paper provides detailed information regarding the design and implementation of a portion of the internal control system. The three main objectives of the assignment are 1) to provide students with the opportunity to demonstrate, develop, and enhance their communication skills; 2) to convey a realistic picture of the accounting environment; and 3) to familiarize students with a typical responsibility of entry-level accountants
The Transformation of Accounting Information Systems Curriculum in the Last Decade
Accounting information systems (AIS) are an extremely important component of accounting and accounting education. The purpose of the current study is to examine the transformation of accounting information systems (AIS) curriculum in the last decade. The motivation for this research comes from the vast advances made in the world of information technology (IT) and information systems (IS). The specific research questions addressed in the current study are: (1) how has AIS curriculum changed in the 18 years since SOX? (2) How has AIS curriculum adjusted in recent years with the emergence of the new hot-button topic big data/data analytics? Overall, this study finds that the core of AIS curriculum has not significantly changed over the last decade. However, more emphasis is being placed on topics such as enterprise wide systems/ERP, IT audits, computer fraud, and transaction-processing. Related, several new topical coverages have been introduced such as business analysts and big data/data analytics. The key contribution of this paper is to provide accounting students and accounting educators with useful information regarding the most significant shifts in AIS over the last decade and insight into the most valuable current AIS topics
Internal Controls After Sarbanes-Oxley: Revisiting Corporate Law\u27s Duty of Care as Responsibility for Systems
Revisiting section 3.4.2 of Clark\u27s Corporate Law (\u27Duty of Care as Responsibility for Systems ) reminds us, however, that the internal controls story actually goes back many decades, and that many of the strategic issues that are at the heart of section 404 have long been contentious. My Article will briefly update Clark\u27s account through the late 1980s and 1990s before returning to Sarbanes-Oxley and rulemaking thereunder by the SEC and the newly created Public Company Accounting Oversight Board ( PCAOB ). My main point builds on one of Clark\u27s but digs deeper. Internal controls requirements, whether federal or state, are incoherent unless and until one articulates clearly for whose benefit they exist, and to what end. There are, in fact, a number of competing articulations. The failure to identify a single and coherent rationale creates significant uncertainty, which has been exploited by players in the legal, accounting, consulting, and information technology fields. Companies are probably spending more time and resources on 404 compliance than a reasonable reading of the legislation and the rules necessarily requires, heavily influenced by those who gain from issuer over-compliance. This rent-seeking compromises the political viability and substantive quality of what is at the heart a beneficial statutory reform
International Framework for Liquidity Risk Measurement,Standards and Monitoring:Corporate Governance and Internal Controls
This paper is structured in accordance with identified components which are considered to be
essential to the successful implementation of the (two fold) topics of discussion of this paper,
namely, monitoring and liquidity risk measurements. The importance of successfully
communicating results obtained from monitoring and measuring such risks, and the role of
corporate governance in ensuring such effective communication, constitutes a recurring theme
throughout this paper. The identified components are as follows: i) Corporate governance (ii)
Internal controls (iii) Disclosure (iv) Management of risk (v) Substance over form (vi)
Transparency
As well as highlighting the interdependence of these components, the paper also aims to accentuate
the importance of individual components. Whilst no hierarchy of importance is assigned to these
components, corporate governance and internal controls are two components which are analysed
in greater depth (than other components). Furthermore, corporate governance could be accorded a
status of greater importance than internal controls having regard to the fact that whilst internal
controls relate to a very vital control aspect of an organisation, corporate governance relates to all
processes – be it decision making, control, production, performance, within a company/bank.
The paper will also attempt to demonstrate that it is possible to implement a system of regulation
which combines increased formalised procedures and/or detailed rules - whilst giving due
consideration to the substance of transaction
Technology Advancement Influence in Accounting and Information System Fields
This research serves to relate the accounting and information technology fields. The information in the research documents changes in the accounting and information technology fields, and how the fields are expected to change in the coming years. The research also discuss the relationship between the accounting and information technology fields. The topics on the ideal accounting candidates for employers and the expectation gap between graduates skills and employers’ expectations are also discussed. Careers in accounting and information systems and also similar and different basic skills of both fields are documented in the research.
The changes in accounting are influenced by the improvements in technology as time progress. Information technology makes integration and communication possible anywhere in the world between businesses. Information technology systems have created a lot of job opportunities. Accounting and Information Systems are two different fields but combined they create a means of collecting, storing, managing, processing, retrieving and reporting financial data effectively
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Implementing section 404 of the sarbanes oxley act: Recommendations for information systems organizations
Section 404 of the Sarbanes Oxley (SOX) Act addresses the effectiveness of internal controls,
which in most organizations are either fully or partially automated due to the pervasiveness
and ubiquity of information technologies. Significant or material control deficiencies have to be
reported publicly. The adverse impact on organizations declaring deficiencies can be severe, for
example, damage to reputation and/or market value. While there are many practitioner-led manuals
and methods for dealing with 404, there has been little published in the academic research
literature investigating the role of Information Systems organizations in implementing Section
404. The paper addresses this gap in knowledge. We used institutional theory as the lens through
which to examine the experiences of Section 404 implementation in three global organizations.
We used the case study method and an abductive strategy to gather and analyze data respectively.
Our findings are summarized in six recommendations. We found that institutional pressures play
a critical role in the implementation of Section 404. In particular, organizations face coercive
pressure to achieve Section 404 compliance, without which punitive sanctions can be imposed by
regulators. Organizations tend to imitate one another in the methods they use so that each is perceived
to be in line with their competitive environment. Organizations face normative pressures to
act in ways that are socially acceptable, which is to achieve compliance. Failure to do so would
be a signal to the market that the organization does not take controls seriously. We expand these
findings in terms of power and influence tactics that IS organizations can use when implementing
Section 404. Our findings provide directions for practice and lines of enquiry for further research
Policy issues in interconnecting networks
To support the activities of the Federal Research Coordinating Committee (FRICC) in creating an interconnected set of networks to serve the research community, two workshops were held to address the technical support of policy issues that arise when interconnecting such networks. The workshops addressed the required and feasible technologies and architectures that could be used to satisfy the desired policies for interconnection. The results of the workshop are documented
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