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AIS Chapter 1
Accounting Information Systems chapter 1
Term | Definition |
---|---|
Enterprise Systems | integrate business processes and information form all of an organization's functional areas |
E-business | the application of electronic networks to undertake business processes between individuals and organizations |
Internal Control | a process effected by the board of directors, management, and other personnel to provide reasonable assurance that organizational objectives will be achieved in efficiency and effectiveness of operations, reliability of reporting, and compliance with laws |
Sarbanes-Oxley Act of 2002, section 404 | management must identify, document, and evaluate significant internal controls |
PCAOB Auditing Standard No. 5 | auditors must report on the effectiveness of the organization's system of internal controls |
Sarbanes-Oxley Act of 2002, section 409 | requires disclosure to the public on a "rapid and current" basis of material changes in an organization's financial condition |