Question1: Without regard to any specific computer audit software, Identify the general advantages to the internal auditor of using computer audit software to assist with audits. Answer: General advantages to the internal auditor of using computer audit software to assist with audits include the following: 1- Audits can be more efficient, saving labor time spent on routine calculations. 2- The routine operations of footing extensions, transcription between reports, and report generation are computer generated as a result of the software. 3-The auditor’s time spent on the audit is more analytical than clerical. 4- The auditor is able to examine more records and extract desired data more readily through ad hoc reporting. 5- Computer-generated reports and schedules are more objective and professional, improving data communication. 6- Audit sampling is improved. Any bias in sample selection is eliminated because of assured nonrandom. This has a direct effect on sampling exactness, reliability, and audit quality.
Posted on: Fri, 09 Aug 2013 01:49:30 +0000
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