SECTION A:

Compulsory Question

$(25$ Marks$)$

QUESTION ONE

The Principle Nig Ltd is a manufacturing company that witnesses a series of financial irregularities from her member of staff. These misconducts have led to the award of penalties from tax authorities apart from financial losses. The company board chairman believes these menace can be adequately tackled electronically but they are skeptical of other challenges that may arise as a result of the computerized accounting system.

You are therefore tasked as the new internal auditor to prepare a report to the Board of Directors highlighting not less than:

$($a$)$ FIVE risks associated with computerized accounting system;

$($b$)$ FIVE means of prevention of the risk mentioned in $($a$)$ above;

$4$ se $A1$

$($c$)$ FIVE challenges in Auditing of computerized accounting system;

$(5$ marks$)$

$(5$ marks$)$

$($d$)$ FIVE emerging trends in Auditing of computerized accounting systems.

$(5$ marks$)$

$(10$ marks$)$

$($Total $25$ marks$)$