Engaging Students in the Real World: A risk assessment and internal control evaluations engagement in the graduate AIS course

In order to provide graduate students in the AIS course with an opportunity to engage in the “Real World,” I devised a case whereby students interview personnel at a real company, conduct a risk assessment and internal control evaluation, and provide the company with a proposal of recommendations. This is similar to an actual consulting case and allows AIS students to put their skills from the course to use in the real world. Students conduct short interviews with personnel at a company. The company is selected from either a pre-approved list of local companies or students may use another company with which they have a connection, such as their employer or a family-owned business, upon my approval. The following information is collected: 1) Company Background, 2) Overview of Technology and the AIS, 3) Processes and Procedures in one transaction cycle, and 4) Risk Assessment and Evaluation of Internal Control. Students are permitted to focus on one transaction cycle, such as the Revenue cycle and must follow a recognized internal control framework. Students create a summary of their findings, a documentation flowchart for one transaction cycle, a conceptual model, and a risk assessment/analysis and proposal of internal control recommendations. They present their summary of findings and proposed recommendations to the class and may also provide it to the company upon my review and approval. The company essentially receives free consulting advice and the students are able to practice the skills and knowledge from the classroom in a real-world environment. This graduate “real world” consulting case allows students to engage in the real-world and utilize their skills and knowledge from the course by putting them to use in a practical setting. In essence the case provides students with real-world experience.