ACG4402CBE Section 01CBE Accounting Information Systems (6 Weeks) – CBE – 2018 Summer Mid-Quarter Deliverable 5 – Threats, Risks, and Controls
Evaluate the threats and risks associated after a while accounting advice rules.
BeGood Baking Contribute is a trivial bakery contribute gang contriveed as a air-tight held strengthening. The gang supply raw baking materials, Nursing essay issue, and equipment to restaurants and bakeries in three states in the higher mid-west. Most of its vocation, however, is located in a vast metropolitan area. BeGood neglects to enlargement its influence in the portion and attend five states. In deed, the owners of BeGood would affect 75% of their vocation to conclude from throughout the portion rather than the prevalent metropolitan area. In appoint to do this, the owners conceive they must change-modify offerings and lines of vocation.
Currently, BeGood has a phone life where customer appoints are taken; these appoints are then sent to shipping where the appoint is populated in its vast repository and shipped after a whilein four days. BeGood outsources its shipping to a topical trucking gang. Once the appoint ships, all Nursing essaywork goes to the accounting portion where it is entered into the accounting rule. BeGood tranquil uses the similar accounting rule it has used past the birth of the gang. All aging of receivables and other allotition is manufactured using Excel spreadsheets. Purchasing and tracking of schedule are manufactured solely by the repository overseer. Invoices for schedule purchasing are sent to the accounting portion when issue are accepted.
The owners at BeGood are wondering how they can economize an online influence and exalt automate its rules in appoint to furnish its enlargement and change-modify its vocation. The owners may besides affect to amplify into the vend vocation.
You accept been remunerated as a full-time staff accountant at BeGood Baking Supply, and accept been consecrated the job of evaluating and recommending a viable accounting advice rule for the accounting and financial facts of BeGood in appoint to furnish paraphrase and diversification. As you start your lore, you reap that numerous portions are complicated in the advice rule, and message is key.
As allot of the BeGood AIS rate, you must oration risks, threats, and directs in obedience after a while the COSO framework. You perceive the exterior evidence conciliate besides neglect this advice, so you run to muniment it now. In provision for the gang exterior audit, you furnish the forthcoming munimentation to benefit the audit team in starting their work:
Document a new AIS after a while a flowchart that conciliate oration the extent and aim of BeGood in its prevalent contrive.
List at meanest three vulnerabilities and divert direct measures to direct the vulnerabilities for each capacity (department) after a whilein the flowchart.
Devise directs installed on threats in a public ledger reporting rule.
Evaluate at meanest one confidence cunning or act that would minimize threats and risks.