BU486 Lecture Notes - Lecture 1: T. Marzetti Company, Institute Of Internal Auditors, Financial Statement
Document Summary
There are six characteristics that make information both useful and meaningful. The diagram shows a bi- directional arrow between the organizational culture and the ais. Every friday morning she receives a report via email that summarizes the number of outgoing and incoming pieces of mail by source and destination department. Every friday afternoon, jill deletes the report without reading it because it has no bearing on mail room operations. Which of the following characteristics of useful information is absent in the situation described above: reliable, relevant, accessible, verifiable, understandable, complete, timely, inventory information is provided in real time by a firm"s accounting information system. The accuracy of this information is questionable, however, since the production manager often reports stock outs of components that the system indicates are in stock. Ownership of the firm recently changed hands and the new owners are conducting an audit of the financial records.
