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Homework answers / question archive / Post UniversityACCOUNTING ACC430 1)A bank in California has 13 branches spread throughout northern California, each with its own minicomputer where its data are stored
Post UniversityACCOUNTING
ACC430
1)A bank in California has 13 branches spread throughout northern California, each with its own minicomputer where its data are stored. Another bank has ten branches spread throughout California, with the data being stored on a mainframe in San Francisco. Which system do you think is more vulnerable to unauthorized access? Excessive losses from disaster?
Discussion Question 15: An organization’s internal audit department is usually considered an effective control mechanism for evaluating the organization’s internal control structure. Birch Company’s internal auditing function reports directly to the controller. Comment on the effectiveness of this organizational structure.
During the past year, Howard Industries has experienced excessive employee turnover in their IT function. Exit interviews with employees revealed that they were dissatisfied with the working environment. Howard employed the services of a management consulting firm that had expertise in employee relationship management. The consulting firm made recommendation to restructure IT
operations to create a greater sense of “ownership” among the IT staff. After three months, under the new operation a survey indicated a marked increase in the level of job satisfaction among the IT group.
During the conduct of the audit planning phase of the annual financial audit, the auditor observed the Following practices: Individual IT professionals are assigned exclusively to support specific business functions such as sales processing, billing, customer account maintenance, etc. Each professional provides a range of IT services for their respective users including computer operations, program changes, and documenting the system through record layouts, system flowcharts, and program listings. They also reconcile computer output reports and logs of transactions errors.
Required:
The relevance of a disaster recovery plan (DRP) to a financial statement audit is a matter of debate. Some argue that the existence of a DRP is irrelevant to the audit. Others argue that it is an important control that needs to be considered in the assessment of internal control. Required: Address both sides of this debate.
