Question: Auditors use electronic software programs such as ACL and Teammate software to help them conduct testing of the clients data and documentation. In addition, auditors

Auditors use electronic software programs such as ACL and Teammate software to help them conduct testing of the clients data and documentation. In addition, auditors use electronic software such as Idea to help them perform sampling of the clients data.

Research two Audit Software programs: Select (1) either ACL or IDEA and (2) Teammate.

In a report, 2-3 pages single-spaced, describe the purpose of the audit software and describe its capabilities. Provide at least two examples of how companies have used the software as it relates to audit capacity. Discuss the benefits of using the software. Discuss disadvantages from using the software if any. Finally, discuss in detail how you would use the software in the context of the SEC Company that you selected.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Hello, Can someone please help mw with this assignment. Please see attached file for instructions Software Paper - Auditors use electronic software programs such as ACL and Teammate software to help...

Please see attachment. Feel free to ask any questions. Thank you! INTRODUCTIONS Auditors use electronic software programs such as ACL and Teammate software to help them conduct testing of the...

Auditors use electronic software programs such as ACL and Teammate software to help them conduct testing of the client's data and documentation. In addition, auditor's use electronic software such as...

ACCT 612 FINAL EXAM SECTION 1: 2 POINTS EACH. PLEASE SELECT THE BEST ANSWER TO EACH OF THE FOLLOWING QUESTIONS. 1) Which of the following best describes the test data approach? A) Auditors process...

Please see the attached items. I need help completing. ACCT 612 FINAL EXAM SECTION 1: 2 POINTS EACH. PLEASE SELECT THE BEST ANSWER TO EACH OF THE FOLLOWING QUESTIONS. 1) Which of the following best...

STAT 225 Section 6380 Summer 2015 Quiz #3 Please answer all 10 questions. The maximum score for each question is posted at the beginning of the question, and the maximum score for the quiz is 80...

Problem 3 How does computing the amount paid in commissions to Metaphor agents in Problem 2 help an auditor verify the management assertion of completeness? Chapter 3 ACL Exercises and Problems...

CASE STUDY GALAXY BANK AND TRUST CORPORATION (GBTC), a banking institution, has used the same credit card service organization for over a decade now. The financial institution utilized the credit...

If an extremum point exists find it f(r. y) = z - E sin y (0

If Professor Laurie Macdonald takes 15 minutes to grade the first exam and follows an 80% learning curve, how long will it take her. a) To grade the 25th exam? b) To grade the first 10 exams?

Question 5 You are considering setting up a firm to produce electric cars. The cost of the project is \ ( \ $ 3 0 \ mathrm { M } \ ) today. The demand for widgets is uncertain. It can be either high...

refers to any assets that provide an organization with an edge against its competitors in some measure, such as cost , quality, or speed. Business Process Management Business activity monitoring (...

Describe the Principle of Benefit Maximization. Why was it important in this situation?

Describe the Principle of Equal Respect. Why was it important in this situation?

Was ignoring the problem an option? Why?