ACCT 484 Lecture Notes - Lecture 17: Household-Responsibility System, Access Control, Financial Statement
3 Oct 2016
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Document Summary
Went over assignment 4 and what it involves. What is it auditing: understanding the computer applications behind to create the financial information. Why is it auditing important: clients are so computerized, need this it auditing, important for looking or fraud, data analytics. It auditing: involves evaluating the computer"s role in achieving audit and control objectives, assurance aspect providing assurance that data and information are reliable, confidential, secure, and available as needed. Not 100% verification it is just assurance: traditional fs audit objectives. Safeguard assets and data integrity: traditional management objectives. Is/it auditor: accountant who specializes in auditing computerized aiss, complements rather than repeats the coverage by financial auditors (in general) Internal vs external auditing: employer, scope of audit, emphasis on controls; process improvements. More likely to be with internal auditing. However external are interested in offering clients advice: both require specialized it knowledge. General knowledge of system: external only looks at the financial statement.
