WGU D217 CORRECT TEST PAPER QUESTIONS AND
ANSWERS SURE A+
✔✔An organization could have more than one system in place; there could be an in-
house system along with a newer commercial system. How is the communication
among many different systems made possible? - ✔✔Special software patches need to
be applied.
✔✔An enterprise resource planning (ERP) system is more than simply an elaborate
transaction processing system. What else does an ERP system provide? - ✔✔It is a
decision support tool that supplies management with real-time information and permits
timely decisions that are needed to improve performance and achieve competitive
advantage.
✔✔What can be used to assess the adequacy of a client's access controls? - ✔✔Many
firms are now performing penetration tests designed to assess access control by
imitating known techniques that hackers use.
✔✔Which attributes are used to describe data that are reliable for use according to the
Safe Harbor Agreement? - ✔✔Organizations need to ensure that the data they maintain
are accurate, complete, and current, and thus reliable for use.
✔✔Which condition of the Safe Harbor Agreement addresses the privacy concern
related to the purposes for which an organization collects and uses information? -
✔✔An organization must provide individuals with clear notice of "the purposes for which
it collects and uses information about them and the types of third parties to which it
discloses the information."
✔✔Which statement describes the condition of onward transfer? - ✔✔Unless they have
the individual's permission to do otherwise, organizations may share information only
with those third parties that belong to the Safe Harbor Agreement or that follow its
principles.
, ✔✔Which standard does the Safe Harbor Agreement establish for information? -
✔✔The two-way agreement between the United States and the European Union
establishes standards for information transmittal.
✔✔What exemplifies the use of continuous auditing? - ✔✔An intelligent control agent
searches electronic transactions for anomalies.
✔✔A primary role for accountants during the detailed design phase is - ✔✔A primary
role for accountants during the detailed design phase is to provide expertise in
accounting functions, controls and processes.
✔✔An accountant's responsibility in the systems development life cycle (SDLC) is -
✔✔A primary role for accountants during the systems development lifecycle (SDLC) is
to ensure that the system applies proper accounting conventions and rules and
possesses adequate control. As with the design phase, accountants must ensure that
both the system, and the development process, are applying proper accounting
conventions and controls. Not only are proper accounting rules and processes being
built into the system but is the system development subject to proper testing and
documentation controls as required by SAS 109 and Sarbanes- Oxley.
✔✔An accountant's responsibility during the implementation of the system is - ✔✔A
primary role for accountants during the implementation phase is to represent the
interests of the accounting and finance department. The member of the project team
representing accounting and finance will work with the other team members to ensure
that the requirements agreed during the design and development phases are properly
implemented. They will look at test results and documentation to ensure that results are
correct and meet requirements.
✔✔Accountants will provide technical expertise in - ✔✔Accountants will provide
technical expertise in GAAP, GAAS, SEC Requirements and IRS Codes. The
implementation of a new accounting or financial information system will need to be sure
to include data and reporting that assists the accounting and finance departments in
following GAAP, GAAS and meeting SEC and IRS requirements. Accountants are the
experts. They guide the project team in meeting these needs.
✔✔Documentation standards are set - ✔✔In the implementation phase, the accountant
plays a role in specifying system documentation. Because financial systems must
periodically be audited, they must be adequately documented. The accountant must
actively encourage adherence to effective documentation standards.
✔✔Statement on Auditing Standards No. 109 requires - ✔✔Statement on Auditing
Standards No. 109 requires the accountant's involvement at both the detailed design
and implementation phases. Controls may be programmed or manual procedures.
ANSWERS SURE A+
✔✔An organization could have more than one system in place; there could be an in-
house system along with a newer commercial system. How is the communication
among many different systems made possible? - ✔✔Special software patches need to
be applied.
✔✔An enterprise resource planning (ERP) system is more than simply an elaborate
transaction processing system. What else does an ERP system provide? - ✔✔It is a
decision support tool that supplies management with real-time information and permits
timely decisions that are needed to improve performance and achieve competitive
advantage.
✔✔What can be used to assess the adequacy of a client's access controls? - ✔✔Many
firms are now performing penetration tests designed to assess access control by
imitating known techniques that hackers use.
✔✔Which attributes are used to describe data that are reliable for use according to the
Safe Harbor Agreement? - ✔✔Organizations need to ensure that the data they maintain
are accurate, complete, and current, and thus reliable for use.
✔✔Which condition of the Safe Harbor Agreement addresses the privacy concern
related to the purposes for which an organization collects and uses information? -
✔✔An organization must provide individuals with clear notice of "the purposes for which
it collects and uses information about them and the types of third parties to which it
discloses the information."
✔✔Which statement describes the condition of onward transfer? - ✔✔Unless they have
the individual's permission to do otherwise, organizations may share information only
with those third parties that belong to the Safe Harbor Agreement or that follow its
principles.
, ✔✔Which standard does the Safe Harbor Agreement establish for information? -
✔✔The two-way agreement between the United States and the European Union
establishes standards for information transmittal.
✔✔What exemplifies the use of continuous auditing? - ✔✔An intelligent control agent
searches electronic transactions for anomalies.
✔✔A primary role for accountants during the detailed design phase is - ✔✔A primary
role for accountants during the detailed design phase is to provide expertise in
accounting functions, controls and processes.
✔✔An accountant's responsibility in the systems development life cycle (SDLC) is -
✔✔A primary role for accountants during the systems development lifecycle (SDLC) is
to ensure that the system applies proper accounting conventions and rules and
possesses adequate control. As with the design phase, accountants must ensure that
both the system, and the development process, are applying proper accounting
conventions and controls. Not only are proper accounting rules and processes being
built into the system but is the system development subject to proper testing and
documentation controls as required by SAS 109 and Sarbanes- Oxley.
✔✔An accountant's responsibility during the implementation of the system is - ✔✔A
primary role for accountants during the implementation phase is to represent the
interests of the accounting and finance department. The member of the project team
representing accounting and finance will work with the other team members to ensure
that the requirements agreed during the design and development phases are properly
implemented. They will look at test results and documentation to ensure that results are
correct and meet requirements.
✔✔Accountants will provide technical expertise in - ✔✔Accountants will provide
technical expertise in GAAP, GAAS, SEC Requirements and IRS Codes. The
implementation of a new accounting or financial information system will need to be sure
to include data and reporting that assists the accounting and finance departments in
following GAAP, GAAS and meeting SEC and IRS requirements. Accountants are the
experts. They guide the project team in meeting these needs.
✔✔Documentation standards are set - ✔✔In the implementation phase, the accountant
plays a role in specifying system documentation. Because financial systems must
periodically be audited, they must be adequately documented. The accountant must
actively encourage adherence to effective documentation standards.
✔✔Statement on Auditing Standards No. 109 requires - ✔✔Statement on Auditing
Standards No. 109 requires the accountant's involvement at both the detailed design
and implementation phases. Controls may be programmed or manual procedures.
