1. Discuss how REA diagrams might be useful to auditors in understanding a client’s business processes. What if the client hasn’t prepared them in advance? What basic steps would the auditor perform to compile the information necessary to build the diagram him or herself? Does that time investment produce large enough benefits to the auditor? Explain your answer.
Discuss why there cannot be one basic REA diagram that would work for all businesses. Find an REA diagram in Google Images, provide that to class, and explain the notations used in the diagram.
2. I would recommend each of you showcase examples of REA diagrams from the Internet as part of your second discussion element. What do you like or dislike about the diagram? What can you learn from these?
3. What the web ex is about.
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