Is it probable that the use of IT will eventually eliminate the audit trail, making it impossible
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
While it is technically possible for an IT system to operate without leaving an audit ...View the full answer
Answered By
Ankur Gupta
I have a degree in finance from a well-renowned university and I have been working in the financial industry for over 10 years now. I have a lot of experience in financial management, and I have been teaching financial management courses at the university level for the past 5 years. I am extremely passionate about helping students learn and understand financial management, and I firmly believe that I have the necessary skills and knowledge to effectively tutor students in this subject.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Question Posted:
Students also viewed these Auditing questions
-
The county assessor feels that the use of more independent variables in the regression equation might improve the overall explanatory power of the model. In addition to size, the assessor feels that...
-
The government decides that the use of credit cards is bad, and introduces a tax on credit card balances. That is, if a consumer or firm holds a credit card balance of X (in real terms), he or she is...
-
Why is it true that the use of EDI means that trading partners may need to grant access to each others files?
-
Calculate the following ratios for both 2021 and 2020 years: current ratio, quick ratio, debt to equity ratio, debt ratio, gross profit ratio, net profit ratio, return on equity, return on total...
-
Can a satellite maintain an orbit in the plane of the Arctic Circle? Why or why not?
-
On a road map of Texas, 0.75 inch represents 80 miles. 1. Find the distance from Houston to Corpus Christi if the distance on the map is about 2 inches. 2. The distance from El Paso to Dallas is 1025...
-
In order to maintain uniform flight, smaller birds must beat their wings faster than larger birds. It is suggested that the relationship between the wingbeat frequency, \(\omega\), beats per second,...
-
Define each of the following terms: a. Bond; Treasury bond; corporate bond; municipal bond; foreign bond b. Par value; maturity date; coupon payment; coupon interest rate c. Floating-rate bond; zero...
-
Explain why accurate accounting information helps with the overall analysis of the business. Discuss how inaccurate or false information impacts the business. In your opinion, discuss the importance...
-
Suppose you own a small Italian news website. Your team consists of journalists who write news articles on the website. The wage of each journalist is 3000 per month. Your office building and...
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
A primary requirement of effective internal control is a satisfactory plan of organization. Explain the characteristics of a satisfactory plan of organization for an information systems department,...
-
Compare the financial position of the IMF over the years.
-
Emerald Inc., a guitar manufacturing company, manufactures various types of guitars. During the month of June, 550 acoustic guitars entered into a process. The Quality Control Department rejected 30...
-
As a new intern for the local branch office of a national brokerage firm, you are excited to get an assignment that allows you to use your accounting expertise. Your supervisor provides you with the...
-
At the beginning of Year 2, Better Corporation's accounting equation showed the following accounts and balances: BETTER CORPORATION Accounting Equation Assets Liabilities Stockholders' Equity Notes...
-
A certain state charges a 12 % tax rate on incomes up to $ 25 , 000 and 16 % on income beyond that. If Rachel makes $ 33 , 000 per year, how much income tax will she pay? Round your answer to the...
-
Identify activities and barriers related to the development of your system (EPIC). Answer the questions based on the following readings: 1. Wisniewski MF et al. Development of a clinical data...
-
A soft drink cans label indicates that the volume of the soda it contains is 12 oz or 355 mL. There is probably some empty space at the top of the can. Describe what you can measure and how that...
-
Four GWU students have been selected to taste food sold by 3 different food trucks labeled as food truck A, B and C on H & 22nd Streets every Monday for 3-weeks. For each student, food trucks are...
-
Find a specific job, internship, or graduate study listing that you would be interested in pursuing. Make sure it requires a letter of recommendation. Your task is to request a letter of...
-
The objective in an auditors review of credit ratings of a clients customers is to obtain evidence related to managements assertion about a. Completeness. b. Existence. c. Valuation and allocation....
-
Jones, CPA, is planning the audit of Rhondas Company. Rhonda verbally asserts to Jones that all expenses for the year have been recorded in the accounts. Rhondas representation in this regard a. Is...
-
Jones, CPA, is planning the audit of Rhondas Company. Rhonda verbally asserts to Jones that all expenses for the year have been recorded in the accounts. Rhondas representation in this regard a. Is...
-
Make a brief note on the Sun microsystems commercial version of Unix-Solaris (Not more than one page) 2. Make a brief note or findings on blade servers and clustered systems (Not more than one...
-
a. Do you tend to favor the idea that. human beings are born bad, good, or a blank slate? Support your stance and provide an example. I believe that all human beings are born in a blank state and the...
-
What effect did the UV exposure have on the control plasmid DNA? Explain what evidence supports this conclusion.
Study smarter with the SolutionInn App