Schibey International is in the process of purchasing a new accounting software system. Scribe is in a very specialized industry, with an international market. The company manufactures specialized parts to sell to companies in the oil exploration and drilling industry. The corporate headquarters are in Fort Worth, Texas, and a significant number – approximately one-half – of their operations are U.S.-based. They also maintain production plants and a sales and support staff in most oil-producing countries. Explain the factors that Scribe should consider when determining which software system will best suit its needs.
Answer to relevant QuestionsRefer to case 48. Describe which parts of the design phase Schibey should undertake to ensure that the purchased software matches with the business processes that it will use.How are accountants involved in data conversion? What is the underlying purpose of the restrictions on CPA firms in Section 201 of the Sarbanes Oxley Act? Explain why Benford’s Law is useful to auditors in the detection of fraud.Refer to the notes payable audit program excerpt presented in Exhibit 7-3. If an auditor had a copy of his client’s data file for its notes receivable, how could a general audit software or data analysis software package ...
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