Most CPA firms have responded to SAS 99 by performing detailed file validity analysis using audit software.
Question:
Required
a. Identify the ways in which audit software might be used to perform file validity analysis.
b. Why is the file validity analysis an effective audit approach to search for the possibility of fraud?
c. Should a company regularly perform file validity analysis? If they perform such a task, would it be viewed as an internal control procedure or an audit procedure? How would this affect the auditor's analysis of fraud risk and controls?
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a File validity analysis can be performed by reading a file using GAS with specific p...View the full answer
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Related Book For 
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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