Reminder: Exercise 1 – Procure to Pay Process is due (via e-mail to professor) on Thursday September 21 Sunday September 24at 11:59 pm.
Exercise 1 (P2P) Due September 24 (change)
Week 3 Questions
- The concept of ‘Assertions’ is important to accountants. Who else is it important to? Why?
- In class we discussed several dimensions of Management Assertions. Which do you believe is the most important? Why?
- Have you ever:
– Been victim of Fraud?
– Had evidence of, suspicions of fraud occurring?
– Been pressured (e.g. by an employer) to commit an act that was morally or legally questionable?
Explain - Which portion / step of the Procure to Pay process do they see as the most vulnerable to theft, fraud or failure of some kind? Explain
Week II – Lessons Learned
WorldCom Organization
- Corporate Shared Services
- 4 Divisions:
- North America [including: Canada], South America
- Asia/Pacific
- Eastern/Western Europe
- Africa
- Role of:
- Board of Directors
- Audit Committee
- Internal Audit
- Technology
- Financial
- Operational
- External Audit [Arthur Anderson]
- C-Level Suite [i.e. CEO, CFO, CIO, COO, etc.]
- Big 4 [EY, PwC, KPMG, D&T] Services Rendered:
- Audit Assurance
- Taxes
- Legal
- Actuarial Services
- Information Security
- Due to Enron / WorldCom Big 4 cannot cross-sell
- Corporate Fiduciary Responsibility
- Role of Compliance / Operational Risk
- Role of Audit
- Role of General Counsel [Legal]
- Todays Role of C-Level Suite
- Post Sarbanes-Oxley, CIO signs off on Annual Report
Week 2 – Questions
- Describe a business process you have experienced (either as an external or internal participant) and what your role was.
- The Sabanes-Oxley Act in the US and many similar laws in other countries were enacted as result of high profile control failures. Are these laws a sufficient reaction to the failures or are they an overreaction? Explain.
- In your own words, how would you define a control environment?
- Describe a real life example of a companys profitability-driven controls. What arethe differences between a compliance-driven vs. aprofitability driven control?
What to do this week (and all future weeks)
I want to go over your weekly activities a second time to make sure there is no confusion.
- Via the Schedule menu watch the video lecture (if any), read the assignments and explore the additional materials for the week.
- Each Tuesday (am) you will find a post of ~ 4 questions about that week’s readings and other content.
- After finishing the videos, readings and other content, write a one or two paragraph comment on at least one (1) of the posted questions. Comment by selecting Leave a Reply option at the bottom of my post on the course blog (Leave a Comment link also works). Replies are due by 11:59 pm Sunday.
(Note: I must approve your first reply or comment so don’t expect to see it right away. After that it will be automatic.) - Once everyone’s readings comments are on the blog, I expect you to read them over and comment on them. Comments need to be posted on the class blog before 11:59 pm on Sunday.
Note: Four (4) substantive comments each week considered a B.
- Class (Monday)
- I may post a summary note (if any) on Tuesday
To learn to the material well you need to be actively engaged in the online discussion. Check it out and contribute everyday. If you have questions, put them in a post or reply online so that everyone can see the answer. If you find yourself confused, call me and we will talk about it (609.206.9783).
What Youll Learn How to Succeed
Attacheddocument contains feedback from prior classes on these questions:
Why Should I Take this Course? (What Key Things will I Learn?)
What Should I do to Assure Getting a Good Grade in this Course?
Note: Items I heard more often are bolded and made larger (larger means more commonly shared).
Discussion Week 1
WELCOME TO MIS-5121 [SECTION 401] – ENTERPRISE RESOURCE PLANNING!!!
I’m Professor Jim Baranello [JB] and I look forward to a collaborative, inclusive, online learning environment for all.
Our class will be held each Wednesday beginning on August 29th in Room 606 [TUCC – 1515 Market Street, Philadelphia].
Safe Travels,
JB
Welcome to MIS-5121 – Auditing Enterprise Resource Planning Systems
Welcome to ITACS 5121, Auditing Enterprise Resource Planning Systems!
This course presents the fundamentals of ERP Systems, the business processes they enable and the controls necessary to assure they work properly. You will learn:
- The basic business processes that ERP systems support
- How these processes are implemented with ERP systems
- How to audit SAP, and
- How to secure and control the processes and systems for the integrity, confidentiality, authenticity and reliability of information.