Wiley CPA excel Exam Review 2014 Study Guide, Business Environment and Concepts

Module 41: Information Technology

Overview

Computers have become the primary means used to process financial accounting information and have resulted in a situation in which auditors must be able to use and understand current information technology. Accordingly, knowledge of information technology implications is included in the Business Environment and Concepts section of the CPA exam. In addition, auditing procedures relating to information technology (IT) are included in the Auditing and Attestation portion of the CPA exam.

A. Information Systems Within a Business

B. Characteristics of IT Systems—General

C. Characteristics of IT Systems—Specific

D. Control Objectives for Information and Related Technology (COBIT)

E. Effect of IT on Internal Control

F. Flowcharting

Key Terms

Multiple-Choice Questions

Multiple-Choice Answers and Explanations

Written Communication Task

Written Communication Task Solution

This module describes various types of information technology and describes the major types of controls that are used to assure the accuracy, completeness, and integrity of technology processed information.

Ideally, to effectively reply to technology-related questions, you should have previously studied or worked in computerized business environments. However, if you do not have this background, we believe that the information in this module should prepare you to perform reasonably well on a typical exam. Keep in mind that the review of these materials cannot make you an expert, ...