15: Unit

Unit 15: Acct 8630 Information Systems Assurance 12/4/07

Syllabus

WebCT

Learning objective

Activity

Resources

In class Tuesday December 4

Develop assurance objectives for risks of information systems.
Design assurance procedures.

PC-Now case

Examine other teams' BPDs and audit programs. What did they do well?
Take a quiz on the PC-Now situation whose questions have objectives like the following:
1. Model business processes
  1. Follow process flows
  2. Make inferences about processes
2. Evaluate internal control
  1. Identify control strengths and weaknesses relevant to
    1. Financial statement assertions
    2. Operational effectiveness and efficiency
  2. Design controls to mitigate control weaknesses in:
    1. Financial reporting processes
    2. Operational processes
3. Identify audit objectives for a specific financial statement assertion
4. For a specific audit objective, select the best audit procedure; for a specific audit procedure, match it to the most relevant audit objective
5. For a specific audit procedure, select the best approach for executing it; for a specific procedure execution, match it to the most relevant audit procedure
6. Interpret evidence generated by execution of audit procedures

PC-Now procure-to-pay process

Modeling and evaluating internal control:

Krishnan et al. 2005. On data reliability assessment in accounting information systems. Information Systems Research 16(3): 307-326

Collaborate with others to achieve objectives.

Complete the uLearn quiz Participation 2 to evaluate the participation of others in the class with respect to its contribution to your learning. Select the response that is closest to your opinion about the participation of the named person across all the times you have been engaged in course matters with her/him, e.g., in class sessions, on the discussion board, face-to-face, through email. Although you may have more evidence about some class members than others, assess everyone. Assess yourself and make notes about your self ratings so you can compare what you think of your contributions with what others think. Means by item by person (anonymous) will be posted in uLearn so you can see the distribution. (Your self ratings will be omitted from these means.) Your learner code will be the same as for the earlier Participation 1.

Criteria

Evaluation questions

Develop assurance objectives for risks of information systems.
Design assurance procedures.
Implement assurance procedures with software tools.

Final exam case

Make sense of final exam business situation.

Aeronik

Before the next class

Develop assurance objectives for risks of information systems.
Design assurance procedures.
Implement assurance procedures with software tools.
Communicate assurance results.

Prepare for the final exam

Develop audit objectives
Query the database
Prepare to take a quiz on the final exam situation whose questions have the following learning outcomes:
1. Develop assurance objectives to address risks
2. Design assurance procedures
3. Implement audit procedures
4. Communicate results
Some strategies for preparing for the exam:
1. Confirm your ability to reperform, without assistance, all the assignments:
  1. Query practice and readiness questions
  2. Audit program development: eTicket
  3. Graded work: Wireless, Threadchic, Organofood, PC-Now
2. Knowledge areas
  1. Be conversant with the knowledge areas
    1. Management assertions on financial statements
    2. Business process including preparation and use of BPDs in BPMN
    3. Analytical procedures
    4. Continuous monitoring and auditing
    5. Internal control, Sarbanes-Oxley including PCAOB Auditing Standards
    6. System development and application audits
  2. Apply knowledge in specific situations
3. Exercise skills and apply knowledge in new situations, e.g., in WSJ articles

Aeronik

Resources for prior weeks

Syllabus

WebCT