Don’t let the name information systems control activities quiz fool you to thinking that this quiz is easy or hard, you might just be surprised. If you love things to do with Information Systems, try it out and see for yourself.
Hardware malfunction
Input errors and omissions
Disruption to computer processing caused by natural disasters
Fraud
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Setting of automatic reorder points for material or merchandise
Approval of a detailed construction budget for a warehouse
Establishment of requirements to be met in determining a customer’s credit limit
Establishment of sales prices for products to be sold to any customer
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That an individual authorizing a transaction records it
That an individual authorizing a transaction maintain custody of the asset that resulted from the transaction
That an individual maintaining custody of an asset be entitled to access the accounting records for the asset
That an individual recording a transaction not compare the accounting record of the asset with the asset itself
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A basic familiarity with the computer’s operating systems
A sufficient understanding of the entire computer system
An expertise in computer systems analysis
A background in programming procedures
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Safeguard the resources of the organization
Provide reasonable assurance that the objectives of the organization are achieved
Encourage compliance with organizational objectives
Ensure the accuracy, reliability, and timeliness of information
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Attention is focused on the accuracy of the programming process rather than errors in individual transactions
It is usually easier for unauthorized personas to access and alter the files
Random error associated with processing similar transactions in different ways is usually greater
It is usually more difficult to compare recorded accountability with the physical count of assets
The audit committee is active in overseeing the entity's financial reporting policies
External policies established by parties outside the entity affect its accounting practices
Management is dominated by one individual who is also a shareholder
Internal auditors have direct access to the board of directors and entity management
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Incompatible duties
Management override
Mistakes in judgment
Collusion among employees
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Journalize entries and prepare financial statements
Record cash receipts and cash disbursements
Establish internal control and authorize transactions
Perpetrate and conceal errors or fraud
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Frequent use, external, aggregate information
Future-oriented, outdated, detailed information
Highly current, accurate, largely internal information
Wide scope, aggregate, future-oriented information
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Establish and document internal control procedures and to include in their annual reports a report on the company's internal control over financial reporting
Provide a report to include a statement of management's responsibility for and assessment of internal control
Provide an identification of the framework used to evaluate the effectiveness of internal control
Provide a statement that the board approves changes in internal control procedures
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Access to the safe-deposit box requires two officers
Only storeroom personnel and line supervisors have access to the raw materials storeroom
The mail clerk compiles a list of the checks received in the incoming mail
Only salespersons and sales supervisors use sales department vehicles
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Safeguards used to limit access to computer facilties
Process used to prepare significant accounting estimates
Procedures used to assure the proper supervision of staff
Programs and controls intended to address the risks of fraud
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Replace substantive tests
Determine whether the controls have been implemented
Determine the effectiveness of the control procedures
Detect fraud
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Performing tests of transactions that corroborate management’s financial statement assertions
Observing the employees as they apply specific controls
Obtaining a flowchart of activities performed by available personnel
Developing audit objectives that reduce control risk
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An AIS supports day-to-day operations by collecting and sorting data about an organization’s transactions
The information produced by an AIS is made available to all levels of management for use in planning and controlling and organization’s activates
An AIS is best suited to solve problems where there is great uncertainty and ill-defined reporting requirements
An AIS is often referred to as a transaction processing system
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I and II
II and III
I, III, and IV
I, II, III, and IV
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Designed to assure that only authorized users receive output from processing
For developing, modifying and maintaining computer programs
Relating to the correction and resubmission of faulty data
Designed to ensure that all data submitted for processing have been properly authorized
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Performance reviews
Information processing
Physical controls
An internal auditing function
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Management regularly compares divisional performance with budgets for the division
Data processing management regularly generates exception reports for unusual transactions or volumes of transactions and follows up with investigation as to cause
Data processing management regularly reconciles batch control for items processed with batch controls for items submitted
Management has asked internal auditing to perform regular audits of the controls over cash processing
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Receive and deposit checks and also approve write-offs of customer accounts
Approve vouchers for payment and also sign checks
Reconcile the bank statements and also receive and deposit cash
Sign checks and also cancel supporting documents
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