Performance According To Specific Policies -Myassignmenthelp.Com

Question: Discuss About The Performance According To Specific Policies? Answer: Introducation The course Accounting System and Assurance mainly focus on the approaches and techniques used for auditing an accounting information system (Romney Steinbart, 2014). The approaches are preliminary written from the view point of an internal examiner. The course offer methodology for analyzing control internally in information model. According to the American Accounting Association, an information system is developed with the purpose to analyses the effectiveness and adequacy of the control system internally (Romney Steinbart, 2014). This course provide effective learning regarding internal audit. By going through a deep research I learned that the internal audit chapter assist in assigning duties which are to be carried out by different personnel in the organizations. The course also helped me to gain knowledge about the data assurance which is related to protecting the confidentiality and integrity of the financial information associated with the computer system and databases. In addition to this it also ensure the accessibility of the data and information to its official users. This helps the company to perform critical and accurate reporting of accounts so that it supports the decision making systems. I get to know data both the accountants and auditors are responsible for a proper and systematic control ove r the strategic assets (Romney Steinbart, 2014). The course also states that the external auditors also hold an accountability of commenting on the correctness of the accounting information and actions which are according to the code of ethics. From the research about the course I found that accounting information system is concerned with the assurance of reliability and safe use of information and still this is rapidly increasing with the growing development of internet. During my study I also observed that there are three types of audits normally performed within the company. These are financial audit which evaluates the integrity and reliability of records on the basis of which financial statements are prepared. The operational audit is concerned with the efficient and economical use of the available resources in order to achieve the targeted goals of the company. Another is the information system audit which reviews the application control in accounting to evaluate the compliance with internal policies. To perform an audit systematically and successfully the course offers four stages that is 1 planning of audit 2 collecting the evidence of audit 3 Analyzing the evidence of audit 4 communicating the results of audit. While performing an audit; there are certain risk which occurs and required to be mitigated for successful completion of audit (Romney Steinbart, 2014). This risk can be evaluated by various approaches such as determining the intimidation faced by the accounting information system. Further recognizing the process of control to minimize the threat and evaluating the control process and its weakness. After conducting a deep research on the course it can be concluded that the main purpose of the accounting information system it to evaluate and review the control system of the company internally. The auditors must remind that the while conducting an information system audit following objectives are to be met such as, provisions of security protecting computer systems, development of program and achieving the performance according to the specific policies of management , processing the transactions, reports and files accurately and observing that the computer information system are complete and confidential. References Romney, M. B., Steinbart, P. J. (2014).Accounting information systems. Pearson Higher Ed.