Review of Internal Control Systems - Accounting Data and Security - Report Writing Assignment Help

Assignment Task:

Section 1
Describe the organization, including details of:

a)Its core business
b)The industry in which it operates
c)Number and type of employees

d)Current information systems and specifications, including:

• database design
• networking capacities
• system size
• speed
• software
• Financial function

Section 2
For the organization, analyze and describe:

The user requirements for information systems Include in your analysis:

• the processes and methods in place to monitor and record ongoing internal inquiries and feedback from users of information systems (‘users’ could include employees, customers or management)
• any constraints of the current information systems, as obtained from the user feedback.

The hardware and software needs of the organization Include in your analysis:

• hardware and software requirements based on the user requirement analysis in the step above. This can include information on type/number, display, peripherals, functionality, security, memory, interfaces, accessibility, operating system, non- functional requirements consideration of available products and services in the market (give two possible different product or service options).

Accounting data and security Include in your analysis:

• three different types of accounting data users of information systems handle. Accounting data can be all the data that support the financial statements; can be hard copy or machine-readable
• security requirements that need to be considered for this accounting data.

Name one policy and procedure document (separate document for each point below) and briefly describe the main purpose of each that the organization has in place to address:

• risks faced by the organization and the management of those risks
• controls and processes for expenditure (on capital and expense items)
• compliance with legislative and statutory requirements.

Note: These documents may cover information systems and also wider aspects of the organisations operations.

Part B - Written Report 2:
You are required to prepare a written report to the CFO covering the areas noted in points 1-9 below.

• Report on the following elements of the improvement program:
• Identify two short-term (1-5 years) and two long-term (i.e. five years or greater) objectives the improvement program aims to achieve for the organization in regard to:
• improving the financial position of the organization
• improving the use of organizational resources. The objectives should adhere to the S.M.A.R.T. criteria.
• Impact of external factors and trends Include in your analysis:
• use of a PESTLE analysis to identify external factors and trends
• based on the findings of the PESTLE analysis, produce a SWOT analysis and evaluate the organization against its external relationships and environmental factors
• also included in the SWOT analysis an assessment of the financial and resource management implications for the improvement program.

Review of internal control systems Include in your analysis:

• name the five components of internal control
• for each component of internal control, identify one strength and one weakness for the organization that could impact on the improvement program.

Analysis of the improvement program:

• Identify two viable options for the restructuring of the organization’s information technology systems to achieve the objectives noted in question 1 above. Using cost-benefit analysis, identify two costs and two benefits for each option. Based on this analysis, select the preferred option.
• Identify two financing options to fund the improvement program. Identify the option which will best help achieve the objectives noted in question 1 above.
• Complete the Appendix D: Program budget, covering budgeted costs of the program and expected impact of the program on revenues and costs of the organization.
• Note one financial analysis technique that could be used to evaluate the outcomes of the improvement program against the objectives noted in question 1 above.
   

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