Topic: Continuous Auditing and Government Auditing using smart contracts Requirement: No Plagiarism: You must use your own word (assignment will be check through three different systems to check the origin of the work)The attached references should help to come up with the correct answers (not limited to these references, you may use more related references)Your answers must be related to the United State Accounting and Auditing Systems.These are an essay question and you must apply theInclude tables and charts for each question to support your concept and/or arguments Question 1 out of 4 Write a min. of 10 pages Explain the government auditing system (Internal auditing in government) in the US and its challenges? Explain the government auditing system in the USA The Generally Accepted Government Auditing Standards (GAGAS) Describe the current government auditing challenges in the USAWhat are the challenges of government auditing and corruption control?How can technology improve the government auditing in the USA?Describe how current government auditing is legging behand the development of current public auditing practice in the USA Question 2 out of 4 Write a min. of 10 pages What is continuous auditing? Explain continuous auditingWhat does the differentiate continuous auditing from traditional auditing?Explain continuous auditing benefitsExplain how continuous auditing changes the nature of the audit As internal control monitoring and transaction data testing are used on a continuous bases to evaluate managements assertions instead of performing manual internal control and substantive detailed testing periodically Give examples of applying continuous auditing methodology from recent research Question 3 out of 4 Write a min. of 6 pages What is the blockchain? Give an overview of blockchain technology in government/public sectorsHow to use blockchain to improve data management in the public sectorWhat are the benefits of using blockchain as database in the governmental sector?What are the limitations of using blockchain as database in the governmental sector? Question 4 out of 4 Write a min. of 10 pages Many studies have proposed new frameworks that would be appropriate for IT centric information systems or proposed new methodologies for compliance with laws and regulations. What is the blockchain based smart contracts? In what ways could blockchain and smart contracts improve government audit?Explain benefits of using blockchain based smart contracts in government auditingDescribe how could government auditors apply continuous auditing method using smart contractsDescribe how continuous auditing can be implemented by government auditors using smart contracts in auditing government procurements Use the Generally Accepted Government Auditing Standards (GAGAS) References: Alles, M., Brennan, G., Kogan, A., & Vasarhelyi, M. A. (2018). Continuous monitoring of business process controls: A pilot implementation of a continuous auditing system at Siemens Continuous Auditing: Theory and Application (pp. 219-246): Emerald Publishing Limited. Appelbaum, D., Kogan, A., & Vasarhelyi, M. A. (2017). Big Data and analytics in the modern audit engagement: Research needs. Auditing: A Journal of Practice & Theory, 36(4), 1-27. Appelbaum, D., Showalter, D., Sun, T., & Vasarhelyi, M. (2015). Analytics knowledge required of a modern CPA in this real-time economy: A normative position. Paper presented at the Proceedings of the Accounting Information Systems Educator Conference, Colorado Springs, CO, June. Borthick, A. F., & Pennington, R. R. (2017). When Data Become Ubiquitous, What Becomes of Accounting and Assurance? Journal of Information Systems, 31(3), 1-4. Bozdag, E. (2013). Bias in algorithmic filtering and personalization. Ethics and information technology, 15(3), 209-227. Chavez-Dreyfuss, G. (2015). Honduras to build land title registry using bitcoin technology. Reuters, available at: http://in. reuters. com/article/2015/05/15/usa-honduras-technology-idINKBN0O01V720150515 (accessed 21 November 2015).[Google Scholar]. Dai, J. (2017). Three essays on audit technology: audit 4.0, blockchain, and audit app. Rutgers University-Graduate School-Newark. Dai, J., & Vasarhelyi, M. A. (2017). Toward Blockchain-Based Accounting and Assurance. Journal of Information Systems, 31(3), 5-21. Florini, A. M. (1999). Does the invisible hand need a transparent glove? The politics of transparency. Paper presented at the Annual World Bank Conference on Development Economics. Gaetani, E., Aniello, L., Baldoni, R., Lombardi, F., Margheri, A., & Sassone, V. (2017). Blockchain-based database to ensure data integrity in cloud computing environments. Kiviat, T. I. (2015). Beyond bitcoin: Issues in regulating blockchain tranactions. Duke LJ, 65, 569. Lemieux, V. L. (2016). Trusting records: is Blockchain technology the answer? Records Management Journal, 26(2), 110-139. Li, H., Dai, J., Gershberg, T., & Vasarhelyi, M. A. (2018). Understanding usage and value of audit analytics for internal auditors: An organizational approach. International Journal of Accounting Information Systems, 28, 59-76. Liang, X., Shetty, S., Tosh, D., Kamhoua, C., Kwiat, K., & Njilla, L. (2017). Provchain: A blockchain-based data provenance architecture in cloud environment with enhanced privacy and availability. Paper presented at the Proceedings of the 17th IEEE/ACM international symposium on cluster, cloud and grid computing. Mittelstadt, B. (2016). Automation, algorithms, and politics| Auditing for transparency in content personalization systems. International Journal of Communication, 10, 12. Simoyama, F. D. O., Grigg, I., Bueno, R. L. P., & Oliveira, L. C. D. (2017). Triple entry ledgers with blockchain for auditing. International Journal of Auditing Technology, 3(3), 163-183. Vasarhelyi, M. A., Kogan, A., & Tuttle, B. M. (2015). Big Data in accounting: An overview. Accounting Horizons, 29(2), 381-396. Vasarhelyi, M. A., Alles, M. G., & Kogan, A. (2004). Principles of analytic monitoring for continuous assurance.Journal of emerging technologies in accounting,1(1), 1-21. Vasarhelyi, M., & Greenstein, M. (2003). Underlying principles of the electronization of business: A research agenda.International Journal of Accounting Information Systems,4(1), 1-25. Vasarhelyi, M. A., & Halper, F. B. (1991). The continuous audit of online systems. InAuditing: A Journal of Practice and Theory. Vasarhelyi, M. A., & Halper, F. B. (2002). Concepts in continuous assurance.Researching accounting as an information systems discipline, 257-271. Williamson, A. L. (1997). The implications of electronic evidence.Journal of Accountancy,183(2), 69. Woodroof, J., & Searcy, D. (2001, January). Continuous audit implications of Internet technology: Triggering agents over the Web in the domain of debt covenant compliance. InSystem Sciences, 2001. Proceedings of the 34th Annual Hawaii International Conference on(pp. 8-pp). IEEE. Yu S. and Neter J. (1973), A Stochastic Model of the Internal Control System, Journal of Accounting Research, Vol. 11, No. 2, pp. 273-295. Xu, J. J. (2016). Are blockchains immune to all malicious attacks? Financial Innovation, 2(1), 25.
Continuous Auditing and Government Auditing
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