AUDIT IN COMPUTER INFORMATION SYSTEM ENVIRONMENT
WE ARE FROM GROUP 4
Ensure
that the company will be able to compete in today’s business world. People are
constantly looking for online activities and expect faster delivery from
business. IT plays a vital role in producing reliable and timely financial
statement and report.Use
IT to improve company internal control system.◦
Addition of new control procedure through computer.◦
Replacing
the manual controls due to the likelihood of possible human error.
For more information, do watch this video.
auditing computer information system environment 1:
Refer to the slide for more informations.
https://bit.ly/2NkiY3N
http://mypolyaudit.blogspot.com/2019/02/chapter-6-auditing-in-computerised.html
http://mypolyaudit.blogspot.com/2019/01/back-audit-up-risk-on-accounting.html
http://mypolyaudit.blogspot.com/2019/02/chapter-6-auditing-in-computerised.html
http://mypolyaudit.blogspot.com/2019/02/chapter-6-auditing-in-computerised.html
http://mypolyaudit.blogspot.com/2019/01/back-audit-up-risk-on-accounting.html
http://mypolyaudit.blogspot.com/2019/02/chapter-6-auditing-in-computerised.html
Questions
Group 1. - Discuss about changing information of technology & implication for auditing ?
Group 2. - What is the classification of application control ?
Group 3. - What are the types of source document ?
Group 5.- List the advantages using IT system ?
Group 6.- List the disadvantages using IT system ?
Group 7.- What is the implication for auditing about ?
Extra.- Name the general control on CIS ?
Comments
constantly looking for online activities and expect faster delivery from business. IT plays a
vital role in producing reliable and timely financial statement and report.
Use IT to improve company internal control system.
◦
Addition of new control procedure through computer.
◦
Replacing the manual controls due to the likelihood of possible human error.
Addition of new control procedure through computer.◦ Replacing the manual controls due to the likelihood of possible human error.
◦
Traditional paperwork
-
auditor can see and feel the printed marks evidencing transaction
are carried out online and most mases in ‘ real time’.
◦
Generally looks for the auditor signatures on the paper evidencing the transactions and
electronic.
◦
It processing environment such authority is evidenced by the user of identification codes
and passwords which are all physically invisible.
Cash register tape. This can be used as evidence of cash sales, which supports the recordation of a sale transaction.
Credit card receipt. This can be used as evidence for a disbursement of funds from petty cash.
Lockbox check images. These images support the recordation of cash receipts from customers.
Packing slip. This describes the items shipped to a customer, and so supports the recordation of a sale transaction.
Sales order. This document, when coupled with a bill of lading and/or packing list, can be used to invoice a customer, which in turn generates a sale transaction.
Supplier invoice. This is a source document that supports the issuance of a cash, check, or electronic payment to a supplier. A supplier invoice also supports the recordation of an expense, inventory item, or fixed asset.
Time card. This supports the issuance of a paycheck or electronic payment to an employee. If employee hours are being billed to customers, then it also supports the creation of customer invoices.
By group 3
-The use of electronic data processing has resulted in decreased vacancies for job searchers like accountant
- High cost for companies as effective electronic data processing software tends to be expensive
- Additional cost for support and backup systems in the event of power failure
A)Organizational structure
B)The way data is processed
http://mypolyaudit.blogspot.com/2019/01/back-audit-up-risk-on-accounting.html
http://mypolyaudit.blogspot.com/2019/01/2-series-how-client-internal-control.html
http://mypolyaudit.blogspot.com/2019/01/stay-qowiy-indentify-risks-for.html
http://mypolyaudit.blogspot.com/2019/02/chapter-6-auditing-in-computerised.html