Video Review Assignment | Auditing in a Computerized Accounting (PSP_DAT5B_Group6)

 Group 6

1.Deepan Raj A/L Gunalan

(10DAT18F1120)

2. Vishali Murugaia 

(10DAT18F1114) 

3. Rashwini Jayaprabagaran

(10DAT18F1104) 

4. Nur Najmeen Aimalin Binti Muhamad Syafiq William

(10DAT18F1106)

5. Nabihah Binti Mohd Azmi

(10DAT18F1002)

Characteristic 

1.lack of visible transaction trails

2.consistency of performance

3.Ease of  access to data and computer programs

4.Concentration of duties

5. systens generated transactions

6. Vulnerability of data and program storage media

Internal control is a company’s system, defined and implemented under its responsibility.

It comprises a set of resources, patterns of conduct, procedures and actions adapted to the individual characteristics of each company which:

contributes to the control over its activities, to the efficiency of its operations and to the efficient utilization of its resources, and

enables it to take into consideration, in an appropriate manner, all major risks, be they operational, financial or compliance.

Understanding the CIS Environment

CIS Processing  – operational source of data, e.g transaction records, customer records, inventory records,

Recording of transactions and records

Processing of such records

Producing documents such as invoices, receipts

Recording financial data

Reporting status of transactions and records

Internal control in a CIS Environment

- Control procedures

1.Authorization of transaction

2.Proper segregation of duties 

3.Independent Checking

Types of Internal control procedures :

1.General Controls

2.Application Controls

1. organizational controls 

- segregation between CIS and user department

-segregation of duties within the CIS department

2. systems development and documentation controls

-software development as well as changes thereof must be approved bt the appropriate level of managment and the user department

: Auditing around the  computer

- Is similar to testing control in a manual control structure in that it involes examination of documents and reports to determine the reliability of the system

Commonly used CAATS:

1. Test data

2. Integrated test facility

3. Parallel simulation

 Other CAATS:

1.Snapshots

2.Scarf