a. Consider the five generic AIS elements discussed in Chapter 1. A financial statement auditor
might examine input documents like purchase orders for mathematical accuracy, complete
information, and proper recording in the AIS. How might a financial statement auditor
examine the other four generic elements of the AIS?
b. Many organizations process thousands of transactions every year. An auditor, therefore, cannot possibly examine all of them in the course of an investigative audit. How would an
investigative auditor determine which transactions to examine more closely?
c. WHM Corporation recently established an internal audit function. The chief internal auditor has developed a plan for conducting operational audits throughout the organization but has not shared the plan with anyone else at WHM. How would you classify the plan based on the capability maturity model? Suggest some signs that would indicate the internal audit plan is moving up the model’s hierarchy.
d. All publicly traded corporations must now file their SEC documents using XBRL. How
would the use of XBRL affect a financial statement audit? A systems audit?
e. Your accounting degree opens up a broad array of career opportunities, one of which is
auditing. Use Steps for Better Thinking to develop a plan for determining if you want to
pursue auditing as a career.

  • CreatedAugust 06, 2015
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