ACG 4101 Lecture Notes - Lecture 8: Public Company Accounting Oversight Board, Subject-Matter Expert, Financial Audit
Document Summary
Is data processing centralized or distributed? centralized data processing. All data processing is performed by one or more large computers housed in a common data center that serves users throughout the organization centralized data processing. Who are responsible for the physical system? conceptual systems. This design involves specifying the criteria for identifying delinquent customers and the information that needs to be reported accountant. Who is the domain expert that determines the nature of the information required, its sources, its destination, and the accounting rules that need to be applied physical system. Includes the data storage medium to be used and the method for capturing and presenting the information external (financial), internal, and fraud. What are the most common types of audits? external audit, also known as attest function, financial audits. An independent attestation performed by an expert, the auditor, who expresses an opinion regarding the presentation of financial statements the stockholders, creditors, government agencies, and the general public.
