TAILIEUCHUNG - Lecture Accounting information systems basic concepts and current issues (4th edition): Chapter 17 - Robert L. Hurt

After studying this chapter you will be able to: Review the historical development of foreign exchange markets; explain how the foreign exchange rate reflects the demand and supply of goods, services, and assets, and the other flows that make up the balance of payments; explain geographic arbitrage, triangular arbitrage, and intertemporal arbitrage. | Chapter 17 Auditing and Evaluating the AIS Outline Learning objectives Types of audits Audit Clarity Project Generally accepted auditing standards Financial statement audit steps Learning objectives Describe the various kinds of audits you might encounter in your accounting career. Explain the purpose of the Audit Clarity Project and summarize its essential components. Explain ten generally accepted auditing standards & their role in a financial statement audit. Discuss the basic steps associated with a financial statement audit. Explain the connection between auditing and accounting information systems. Types of audits Financial audit Express an opinion on the fairness of a company’s financial statements Operational audit Determine if a company’s business processes & policies “make sense” Systems audit Ascertain whether information technology is producing expected results Types of audits Compliance audit Examine the AIS and financial statements of GNFP entities Management audit Determines the way management decisions are supported Investigative audit Investigates the AIS and related data to determine if fraud has occurred International audit Applies and combines one or more of the other types in international contexts Audit Clarity Project Four main change areas to financial statement audit standards Format Terminology Additional requirements Audit report The ACP’s goals were to make audit standards easier to read and to converge them with international audit standards. Audit Clarity Project Audit Clarity Project Terminology Applicable financial reporting framework US GAAP IFRS Emphasis of matter paragraph Calls attention to something in the statements and / or the disclosures Audit Clarity Project Additional requirements Ensure appropriateness of applicable financial reporting framework if other than US GAAP Obtain agreement from management regarding their responsibilities for financial statements & internal control Adhere to quality control standards throughout

• Kế toán - Kiểm toán
• Accounting principles
• Fundamental accounting principles
• Capital budgeting
• Managerial decisions
• Managerial decision scenarios
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting