Question

Should information provided by management and other non-accounting personnel be assumed accurate or is it the accountant’s responsibility to investigate each item submitted for legitimacy?

nu le An effective accounting information system has the ability to sort through the millions of things that happen in a company during an accounting cycle and capture only the business transactions that impact the accounting equation. Questions 1. What responsibility or role does the accountant have in this process? 2. Should information provided by management and other non-accounting personnel be assumed accurate or is it the accountant's responsibility to investigate each item submitted for legitimacy? 3. In the situation that follows, does Jane have any responsibility to find out the legitimacy of the expenses she is processing or is her job to just pay the bill? Below is an example of a situation where this would come into play Jane is the accounts payable clerk for ABC Corporation. One of her job duties is to process the travel expenses of the chief financial officer and pay the associated business credit card bill Jane has noticed lately that the CEO's expense reports are steadily increasing in amount and frequency. From receipts and other documentation that Jane processes, she suspects the CEO is running personal expenses through the company: however, she is not 100% sure.
Question 3

Answer 1

1. as accountant their is responsibility financial functions related with the collection , recording the accounting transaction, accuracy in account and presentation of account.....

2. as accountant there is compulsory checking any information is provided by management and non accounting person...

it is accountant responsibility to investigate every information which provided by any one.

3.if jane is not sure about that CEO done expenses from the business credit card bill than it is not take any action....first it is take investigation than it is talk to the authority....