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Internal Control and Risk Evaluation

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Internal Control and Risk Evaluation
Lauren A Lewis
Accounting Information Systems ACC/542
June 23,2014
Yasin Dadabhoy

Internal Control and Risk Evaluation Internal controls and risk assessments are an essential part for an organization to be successful. Management at Kudler Fine Foods has reviewed the flowcharts prepared and is requesting information on controls that will be required. Risks are the negative events that may occur causing a change in an organizations productivity. Internal controls are the policies and procedures put in place to reduce unexpected occurrences related with the risks. This brief will discuss the risks of Kudler Fine Food’s current Accounting Information System evaluated by Learning Team A. It will also identify all risk and control points by incorporating the controls and risk into the flowcharts. Team A will design internal controls to ease risks to the systems, and discuss other controls, outside the system, that Kudler Fine Foods may need

When evaluating Kudlers accounting information systems and the integration of the automation we found that Kudlers focus should be on payroll, accounts payable, accounts receivable, and inventory processes. Theses processes have risk involved. This brief will focus on Kudlers internal and external controls, which include polices and procedures, HR compliance/code of conduct and computer information access. Kudler must maintain a policy and procedures system documenting in detail how each procedure should be completed. The code of conduct will show employees the importance of the controls put in place to maintain the philosophies of the organization. Who has access to each system and or server is important to the security of Kudler; if security is broken down the customers will lose confidence in Kudler.

Policies and procedures

It is important for Kudler to maintain policies

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