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This case study analyzed the internal controls of a real estate company using the widely accepted COSO framework. Testing of the internal environment and controls was completed using the COSO framework. The major internal control problem identified in the study was a lack of ethical standards in the control environment.

This case study analyzed the internal controls of a real estate company using the widely accepted COSO framework. Testing of the internal environment and controls was completed using the COSO framework. The major internal control problem identified in the study was a lack of ethical standards in the control environment. In addition to this main problem, inadequate documentation, no separation of duties, and unqualified employees were also identified as violations of effective internal controls. The department of real estate ordered a "cease and desist" on August 8, 2013 due to illegal company activities. The company participated in illegal actions regarding: the trust account and company documentation and procedures. Material weaknesses were found in the company's internal controls; therefore the result of this study was an adverse opinion on internal controls.
ContributorsFrederick, Nicole Lorraine (Author) / Munshi, Perseus (Thesis director) / Benali, Kayla (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Department of Psychology (Contributor)
Created2013-12
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Cognitive technology has been at the forefront of the minds of many technology, government, and business leaders, because of its potential to completely revolutionize their fields. Furthermore, individuals in financial statement auditor roles are especially focused on the impact of cognitive technology because of its potential to eliminate many of

Cognitive technology has been at the forefront of the minds of many technology, government, and business leaders, because of its potential to completely revolutionize their fields. Furthermore, individuals in financial statement auditor roles are especially focused on the impact of cognitive technology because of its potential to eliminate many of the tedious, repetitive tasks involved in their profession. Adopting new technologies that can autonomously collect more data from a broader range of sources, turn the data into business intelligence, and even make decisions based on that data begs the question of whether human roles in accounting will be completely replaced. A partial answer: If the ramifications of past technological advances are any indicator, cognitive technology will replace some human audit operations and grow some new and higher order roles for humans. It will shift the focus of accounting professionals to more complex judgment and analysis.
The next question: What do these changes in the roles and responsibilities look like for the auditors of the future? Cognitive technology will assuredly present new issues for which humans will have to find solutions.
• How will humans be able to test the accuracy and completeness of the decisions derived by cognitive systems?
• If cognitive computing systems rely on supervised learning, what is the most effective way to train systems?
• How will cognitive computing fair in an industry that experiences ever-changing industry regulations?
• Will cognitive technology enhance the quality of audits?
In order to answer these questions and many more, I plan on examining how cognitive technologies evolved into their use today. Based on this historic trajectory, stakeholder interviews, and industry research, I will forecast what auditing jobs may look like in the near future taking into account rapid advances in cognitive computing.
The conclusions forecast a future in auditing that is much more accurate, timely, and pleasant. Cognitive technologies allow auditors to test entire populations of transactions, to tackle audit issues on a more continuous basis, to alleviate the overload of work that occurs after fiscal year-end, and to focus on client interaction.
ContributorsWitkop, David (Author) / Dawson, Gregory (Thesis director) / Munshi, Perseus (Committee member) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description

As Clive Humby said, “Data is the new oil” and is becoming ever more important to every industry, profession, and business with incredible applications like artificial intelligence and machine learning. Looking specifically at the Small and Medium Businesses (SMB) market segment, there is a significant gap in the use of

As Clive Humby said, “Data is the new oil” and is becoming ever more important to every industry, profession, and business with incredible applications like artificial intelligence and machine learning. Looking specifically at the Small and Medium Businesses (SMB) market segment, there is a significant gap in the use of data analytics. Only 15% of SMBs have a “data-driven” culture. Companies that leverage data to drive decision-making have seen increased revenue, profit, and employee output. Despite the benefits, SMB owners run into three main issues. First, a lack of bandwidth as time and human capital are stretched thin. Second, technical expertise as many analytics tools require coding expertise or knowledge of systems and tools which many SMBs do not possess. Lastly, many SMBs lack the finances to invest in costly tools or subject matter experts. Enterprise-level organizations will continue to invest in analytics leaving SMBs behind and increasing economic inequality. Our solution is DataMate, a Data as a Service (DaaS) no-code, low-cost, and low-time intensive platform designed to provide end-to-end analytics solutions for SMB owners. The platform allows users to automatically pull data from sources (ex. point of sale, customer relationship management, etc.), store data in a centralized location, and lastly, visualize data through dashboards to enable SMBs with data-driven decision-making capabilities. Once at scale, we will be able to create models and deliver advanced predictive and prescriptive analytics. The global data-as-a-service industry market was valued at $5.5B in 2021 and is expected to grow at a CAGR of 36.9% until 2030. SMBs account for a minority of global revenue share but are expected to grow faster than large enterprises. The Total Addressable Market (TAM) for the data-as-a-service industry of small and medium-sized businesses in the United States is roughly $1.02B and the Serviceable Obtainable Market (SOM) is roughly $2.6M. The DaaS industry is highly competitive with high customer bargaining power and large growth potential. Some direct competitors to DataMate are FiveTran, Looker, Domo, and Alteryx. While offering similar data infrastructure services, no solution can achieve DataMate’s unique product value proposition. A fully operational platform will require considerable technical investment. Our go-to-market strategy consists of a manual and automated phase. To start, leveraging the expertise of data/business analysts to manually build end-to-end analytics solutions. Concurrently, we plan to build an automated platform. By starting to manually build, we can bring revenue on day one while solidifying template dashboards and ETL flows. Additionally, DataMate will start building data solutions only in the restaurant vertical given its large market segment and homogeneity of tools. Given the numerous variations in data needs between SMB industries, a step-by-step rollout allows for quality integration. Eventually, the platform will expand to all industries.

ContributorsRamakumar, Kiran (Author) / Sidhwa, Zain (Co-author) / Byrne, Jared (Thesis director) / Ferrara, Justin (Committee member) / McCreless, Tam (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor)
Created2023-05
Description

As Clive Humby said, “Data is the new oil” and is becoming ever more important to every industry, profession, and business with incredible applications like artificial intelligence and machine learning. Looking specifically at the Small and Medium Businesses (SMB) market segment, there is a significant gap in the use of

As Clive Humby said, “Data is the new oil” and is becoming ever more important to every industry, profession, and business with incredible applications like artificial intelligence and machine learning. Looking specifically at the Small and Medium Businesses (SMB) market segment, there is a significant gap in the use of data analytics. Only 15% of SMBs have a “data-driven” culture. Companies that leverage data to drive decision-making have seen increased revenue, profit, and employee output. Despite the benefits, SMB owners run into three main issues. First, a lack of bandwidth as time and human capital are stretched thin. Second, technical expertise as many analytics tools require coding expertise or knowledge of systems and tools which many SMBs do not possess. Lastly, many SMBs lack the finances to invest in costly tools or subject matter experts. Enterprise-level organizations will continue to invest in analytics leaving SMBs behind and increasing economic inequality. Our solution is DataMate, a Data as a Service (DaaS) no-code, low-cost, and low-time intensive platform designed to provide end-to-end analytics solutions for SMB owners. The platform allows users to automatically pull data from sources (ex. point of sale, customer relationship management, etc.), store data in a centralized location, and lastly, visualize data through dashboards to enable SMBs with data-driven decision-making capabilities. Once at scale, we will be able to create models and deliver advanced predictive and prescriptive analytics.

ContributorsSidhwa, Zain (Author) / Ramakumar, Kiran (Co-author) / Byrne, Jared (Thesis director) / McCreless, Tam (Committee member) / Ferrara, Justin (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Information Systems (Contributor)
Created2023-05
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The concept of data analytics has become a primary focus for companies of all types, and from within all industries. Leveraging data to enhance the decision making power of management is now vital for companies to remain competitive. Beginning as a movement pioneered by tech-startups and teams of university researchers,

The concept of data analytics has become a primary focus for companies of all types, and from within all industries. Leveraging data to enhance the decision making power of management is now vital for companies to remain competitive. Beginning as a movement pioneered by tech-startups and teams of university researchers, data analytics is reshaping every industry that it touches, and the field of accounting has been no exception.
Corporate buzzword terms like “big data” and “data analytics” are vague in meaning, and are thrown around by media sources often enough to obfuscate their actual meanings. These concepts are then associated with company-wide initiatives beyond the reach of the individual, in a nebulous world where people know that analytics happens, but don’t understand what it is.
The power of data analytics is not reserved for company-wide initiatives, or only employed by Silicon Valley tech start-ups. Its impacts are visible down at the team or department level, and can be conducted by the individual employees. The field of data analytics is evolving, and within it exists a rapid transition in which the individual employee is becoming a source for insight and value creation through the adoption of analytics based approaches.
The purpose of this thesis is to showcase an example of this claim, and demonstrate how an analytics based approach was applied to an existing accounting process to create new insights and information. To do this, I will discuss my development of an Excel based Dashboard Analytics tool, which I completed during my internship with Bechtel Corporation throughout the summer of 2018, and I will use this analytics tool to demonstrate the improvements that small-scale analytics had on a pre-existing process. During this discussion, I will address conceptual aspects of database design that related to my project, and will show how I applied this classroom learning to a working environment. The paper will begin with an overview of the desired goals of the group in which I was based, and will then analyze how the needs of the group led to the creation and implementation of this new analytics-based reporting tool. I will conclude with a discussion of the potential future use of this tool, and how the inclusion of these analytical approaches will continue to shape the working environment.
ContributorsCunningham, Jared (Author) / Dawson, Gregory (Thesis director) / Prince, Linda (Committee member) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05