Will the use of IT eliminate the audit trail, making it impossible to trace individual transactions from their origin to the summary total in the financial statements? Explain. How do the American Institute of Certified Public Accountants (AICPA) and the Public Company Accounting Oversight Board (PCAOB) want the auditor to address controls in the light of the previous statement?

Answer rating: 100% (QA)

Solution IT does not eliminate the auditing trial process and of course it is difficult ... View the full answer