Information Produced by the Entity (IPE) Complete the following table, indicatin
ID: 2549443 • Letter: I
Question
Information Produced by the Entity (IPE) Complete the following table, indicating whether the item is an example of IPEfrom a transaction process and explain why or why not. IPE? Why or why not? Item Accounts payable listing Fixed asset rollforward A listing of invoices for goods and services A bankstatement Income tax reconciliation A bad debtreserve calculation Inventory and sales information that is used as the basis for determining the excess and obsolete inventory reserve An exception report A report of changes to payroll data A vendor invoice A list of product liability claims Headcount data used in a cost allocation model Legal contracts produced by a third party A payroll registerfrom a service organization that processes payroll for the entity NO NOExplanation / Answer
Definition of IPE -
Any information created by the entity using the entity's IT Applications, end user computing tools or other means (including manually prepared information).
ITEM IPE OR NOT? WHY OR WHY NOT? Accounts Payable Listing Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. Fixed Asset Roll forward Yes A “roll forward” report is a valuable tool to view the monthly asset activity of your internal book schedule.It is IPE because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A listing of invoices for goods and services Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A bank Statement No It is information provided by a third party who is not a service organisation to an entity. Income Tax reconciliation Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A bad debt reserve calculation Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. Inventory and sales information that is used as the basis for determining the excess and obsolete inventory reserve. Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. An exception Report Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A report of changes to payroll data yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A vendor Invoice No An Vendor Invoice is not IPE .it is not an information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. A list of product liability claims. Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. Headcount data used in a cost allocation model Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means. Legal Contracts produced by a third party No It is information provided by a third party who is not a service organisation to an entity. A payroll register from a service organisation that processes payroll for the entity. Yes because it is information created by the entity using entity's IT applications, end user computing (EUC) tools or other means.