R EVIEW CHAPTER 5: AUDIT REVIEW (PSP_DAT5C_JUNE2020) Group members: VINOTH A/L KRSIHNAMOORTHY                    10DAT18F1046 TAN YING HUA                                                                 10DAT18F1072 FATINLYANA YASMIN BT FADZLI YUSOF  10DAT18F1119 KHAIRUNNISA' BT ABDUL AZIZ                         10DAT18F1050 SATHIYA RISHMA A/P JAGATHESAN             10DAT18F1091 Introduction     A subsequent event are generally define as event that occurs after the year end period but before the financial statements have not been issued. Got two types of subsequent events that is adjusting event and non adjusting events. Adjusting events- provide evidence of condition that existed on the date of the financial statements. Non adjusting events- provide evidence of condition that existed aroses that date of financial statement. Date of audit report is on the date when the auditor complete the report. Refer to the slide we have prepared for more information. https://app.conceptboard.c

  Khuksukma kuan 10DAT18F1004 Characteristics cis: 1.lack of visible transaction trails 2.consistency of performance 3.ease of acess to data and computer programs 4.concentration of duties 5.system generated transactions 6.vulnerability of data and program storage media Internal control in CIS Control procedures- authorization of transaction -proper segregation of duties -independent checking Herashni Nair 10DAT18F1052 Purpose- written programs  Designed to perform audit tasks in specific circumtances 1.snapshots - taking a picture of a transaction 2.Systems control audit review files (SCARF)- involves embedding audit software modules and to provide continuous monitoring of the systems transaction Internal control in a CIS environment Internal control -It is an essential prerequisite for efficient and ，effective management of any organization Lim Siew Lyn 10DAT18F1060 Internal control procedures can classified into two types:general controls and application controls General controls 

 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

 Nur Illyia Binti Kamal (10DAT18F1108) Nur Ashiqin Aqillah Binti Dermawi (10DAT18FF1020) Nor Faizah Binti Abdul Rahman (10DAT18F1100) Santhiya Sagaran (10DAT18F1078) Kenneth Bernard (10DAT18F1122) This video was explained about auditing in a Computerized Environment. No matter whether it's a small or big entity , every entities are using computer in their accounting system. This produces new opportunities for professional accountants  hence , creates some challenging problems to auditors. Regardless of the extent of Computerization are the methods of data processing being used the responsibility for the establishment and implementation of appropriate internal control systems rests with the management and those charged with governance. The others responsibility is to obtain an understanding of the entity's internal control system to be able to assess the control risk and determine the nature timing and extended the tests to be performed In this video, we have know about the cha

  CIS   - system that composed people and computer that processes or interprets information  -Adequacy of control  - no proper internal control Objectives  The purpose of this Standard is to establish standards and provide guidance on procedures tobe followed when an audit is conducted in a computer information systems (CIS) environment.2. The auditor should consider how a CIS environment affects the audit.3. The overall objective and scope of an audit does not change in a CIS environment. Application control - to ensure the completeness and accuracy of input 5 types of control: 1. Data capture controls  2. Processing controls  3. Data validation controls  4. Output control 5. Error control General control - developed, maintained and operated and how effective the operations of the programmed procedures Types of control: 1. Data centre and network operations- control over the computer 2. System software acquisition, charge and maintenance-whether the acquisition is authorised and co

  IT CONTROL: General VS Application Control -General controls apply to all computerized applications and consist of a combination of hardware, software, and manual procedures that create an overall control environment. -Intan Sahira Uzma Binti Norizan (10DAT18F1116) -Application controls are specific controls unique to each computerized application, such as payroll or order processing. -Muhamad Syahmi Bin Ibrahim (10DAT18F1041) - IT control consist of general control and application control. IT infrastructure helps for people to able to access IT environment.The methods to access IT environment is security ID. People to log in and log on a website and the password & username is under the general controls. In passwords there are some rules that is to look the length, composition and rotation-changed then this all under monitoring controls. There are some types of systems which is HR system,Accounts system,Learning management system and Enrolments system. Under LMS system is logging

Hai, We are from group 8 (DAT5B) Nursyamira Izzati bt Mohd Rosdi 10dat18f1008 Nur Arisha Bt Zakaria 10dat18f1038 Sabarreena Priyah A/P Murugesan 10dat18f1058 Siti Nur Izza bt Mohamed 10dat18f1098 Suthashne A/P Seran 10dat18f1102 Nurul Nabilah bt Abdullah 10dat18f1501 LEARNING OUTCOMES FROM THE VIDEO : Characteristics of Computer Information System 1.Lack of visible transaction trails 2.Consistency of performance 3. Ease of Acess to data and computer programs 4. Concentration duties 5. Systems generated transaction 6.Vulnerability of data and program storage media Internal Control 1.Internal control in a CIS environment is an essential prerequisite for efficient and effective management of any organization. 2.There are variety of control to check accuracy, completeness, and authorization of transactions. 3.Internal control can be classified as general control and application controls General Controls and Application Controls General control classified as: 1.Organization control 2.Syste