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ACCT 630 Accounting Information Systems

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Widener University

   

Accounting Information Systems (ACCT 630)

   

Added on  2020-04-13

ACCT 630 Accounting Information Systems

   

Widener University

   

Accounting Information Systems (ACCT 630)

   Added on 2020-04-13

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Running head: ACCOUNTING INFORMATION SYSTEMSAccounting Information SystemsName of the Student:Name of the University:Author Note
ACCT 630 Accounting Information Systems_1
1ACCOUNTING INFORMATION SYSTEMSTable of ContentsIntroduction................................................................................................................................2COSO – as an enterprise risk management framework.............................................................2ISO 31000 – as an enterprise risk management framework......................................................2Comparison between COSO and ISO 31000.............................................................................3Conclusion..................................................................................................................................3References..................................................................................................................................5
ACCT 630 Accounting Information Systems_2
2ACCOUNTING INFORMATION SYSTEMSIntroductionThis particular study aims to compare and contrast the framework of COSO and ISO31000 Enterprise Risk Management Framework. To be more precise, this particular studyprovides an overview into the risk management frameworks and try to assess and examine theapplicability’s of these frameworks as to whether one is advantageous than the other.COSO – as an enterprise risk management frameworkCOSO has been developed as result of the joint initiatives of the AmericanAccounting Association, the American Institute of Certified Public Accountants, FinancialExecutives International, Institute of Management Accountants and Institute of InternalAuditors. The primary objective of developing this particular risk management framework isto provide thought leadership through the means of developing a comprehensive guidanceframework on corporate risk management, deterrence of fraud and internal controls. Itsfurther objective is to improve the operational performance of the organization and thecorporate governance to reduce the occurrence of fraudulent activities in the organization(Bromiley et al., 2015). ISO 31000 – as an enterprise risk management frameworkISO 31000 is another framework for the management of risk that has been developedin order to help organizations to increase the likelihood of achieving the previously setobjectives, improve the scope of identification of threats ad opportunities in the organizationand monitor the effective allocation and utilization of the available resources for the purposeof risk treatment (Dias, 2017).
ACCT 630 Accounting Information Systems_3

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