WHAT EVERY AUDITOR NEEDS TO KNOW ABOUT e-commerce.

Internal Auditor › Vol. 57 Nbr. 3, June 2000

Author: ATTAWAY SR., MORRIS C.

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WHAT EVERY AUDITOR NEEDS TO KNOW ABOUT e-commerce.

DOING BUSINESS ON THE WEB IS BECOMING THE WAY OF THE WORLD. INTERNAL AUDITORS IN EVERY CURRENT AND POTENTIAL E-COMMERCE ENVIRONMENT MUST PROBE THE TERRAIN-ITS PERILS, PITFALLS, AND PAYOFFS.

IMPLEMENTING ELECTRONIC COMMERCE PROVIDES organizations with new tools and techniques for cutting costs, communicating more effectively, increasing sales, and improving operational efficiency and effectiveness. E-commerce encompasses everything from virtual storefronts and malls to business-to-business applications, and it pervades behind-the-scenes business functions such as electronic payment systems and order management.

E-commerce has been the catalyst for enhancements and greater efficiency in areas that include:

* Selling products and processing orders.

* Tracking customers' buying habits.

* Presenting customers and prospects with product catalogs.

* Presenting financial statements to investors.

* Providing...

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