(Answered) Discussion questions1 discuss at least three to five

Accounting

DISCUSSION QUESTIONS

1. Discuss at least three to five advantages and disadvantages of implementing an IT-based system. Identify at least four inherent operational and financial risks in using computerized reports. Propose at least two mitigation risk strategies, and justify your recommendation.

2. Identify at least three risks that auditors need to consider for companies that process Web-based sales transactions, including credit card payments. For each risk identified, develop a mitigation risk strategy. Provide specific examples.

DISCUSSION QUESTIONS

1. Discuss the motives of the executives to commit fraud. Discuss the culpability of the accountants in preparing the questionable accounting estimates for the cost to compete.

2. Evaluate whether the SOX and PCAOB have been effective in reducing unethical behavior of corporate executives. Propose at least two amendments or provisions to SOX that would make management more accountable for the accuracy of financial statements, or provide additional sanctions that might reduce unethical behavior. Support your position.

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