7. Computer Auditing.pdf

13 Pages

Business Administration
Course Code
BUS 426
Brad Bart

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COMPUTER AUDITINGThis module addresses the effects that computer processing has on the control environment and the audit of financial systems Approaches to auditing computerized accounting systems are addressed This module also addresses the use of computers in conducting an auditChapter 7pages 215 to 262 and Chapter 9 Appendix A Online UNDERSTANDING INFORMATION SYSTEMS AND TECHNOLOGYCICA CAS 31518 old Section 5141002 states that The auditor shall obtain an understanding of the information system including the related business processes relevant to financial reporting including the following areas a The classes of transactions in the entitys operations that are significant to the financial statements bThe procedures within both information technology IT and manual systems by which those transactions are initiated recorded processed corrected as necessary transferred to the general ledger and reported in the financial statements cThe related accounting records supporting information and specific accounts in the financial statements that are used to initiate record process and report transactions this includes the correction of incorrect information and how information is transferred to the general ledger The records may be in either manual or electronic form d How the information system captures events and conditions other than transactions that are significant to the financial statements 1 ACCT4570 WINTER 2012 ROBERTSONeThe financial reporting process used to prepare the entitys financial statements including significant accounting estimates and disclosures and f Controls surrounding journal entries including nonstandard journal entries used to record nonrecurring unusual transactions or adjustments Ref Para A81A85 2 ACCT4570 WINTER 2012 ROBERTSON
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