Is it probable that the use of IT will eventually eliminate the audit trail, making it impossible to trace individual transactions from their origin to the summary totals in the financial statements? Explain.
Answer to relevant QuestionsA primary requirement of effective internal control is a satisfactory plan of organization. Explain the characteristics of a satisfactory plan of organization for an information systems department, including the relationship ...Many companies have part or all of their IT processing done by computer service centers.a. What controls should the company maintain to ensure the accuracy of processing done by a service center?b. How do auditors assess ...Lee Wong, CPA, is auditing the financial statements of the Alexandria Corporation, which has a batch-processing IT-based system for shipping and invoicing that it purchased from a software vendor. The following comments have ...Auditors encounter the use of user operated computers on almost every audit engagement.a. How do user operated computers differ from large computers?b. When are the auditors concerned with internal control over the use of ...Using the approach presented in this chapter for mean-per-unit sampling, when is it necessary to calculate an adjusted allowance for sampling risk?
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