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Imagine you are a controller for a company




Controls for IT and Reporting & Evaluation;? Imagine you are a controller for a company.;? Identify the internal control reporting options.;? Create criteria against which the options can be evaluated.;? Include internal controls for IT.;Please refer to Chapter 3, as one of your reading requirement in the Syllabus for Week 6 - Appendix 3.2 Aksarben Furniture Mart (AFM). Similar to the Appendix, Include the Internal control reporting options and then if you read the Prepaid Expenses BS01 Table, you should have a good idea to create criteria against the options that can be evaluated: Such as Sub-process, ID, Control activities, Test plan, etc...Explain each of these options for the criteria that you choose to write about.;Use this Appendix to help guide you on what I expect to see from your assignment. The best way to tackle this assignment is to choose one specific area in accounting to focus on. Example: Payroll;Requirements;There should be an Overview paragraph and a Summary paragraph explaining the procedures for the specific concentrated area that you choose to provide a table on. It can be based on a real or fiction company. I will be grading on the how you would write a Policy and Procedures for a specific concentrated area that compiles the seven controls;1. Control activities;2. Control framework;3. Test plan for testing the control;4. Test of operating effectiveness;5. Test of design;6. COSO framework components involved;7. Attributes of financial statement assertions;Depending on which specific concentrated area you decide to work on, not all these controls may apply. Let me know if you have any more questions.;This final assignment does not need to include references. However, if you provide definition or sources in your paper, you must credit the author and provide a proper Reference page formatted APA. There is no word count or page count, but I will grade base upon your understanding to covering the key points of this assignment.;Attachment Preview;APPENDIX 3.doc Download Attachment;APPENDIX;3.2;AksarbenFurniture;Mart(AFM);Aksarben Furniture Mart (AFM) is a company that began its operations in 1953. Initially;its operations were limited to retail of home furniture.... Show more


Paper#26451 | Written in 18-Jul-2015

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