A6 - The Effect of Information Technology on the Audit

Question 1

In an IT system, what are the different duties that must be segregated?

Answer 1

COPAL
Control team
Operators
Programmer
Analyst (of system)
Librarian

Question 2

What does GASPs stand for?

Answer 2

Generalized Audit Software Packages

Question 3

Which computer-assisted auditing techniques allows fictitious and real transactions to be processed together without client operating personnel being aware of the testing process?

Answer 3

Integrated testing facility

Question 4

Which computer-assisted auditing techniques processes client input data on a controlled program under the auditor’s control to test controls in the computer system?

Answer 4

Parallel simulation

Question 5

What is a primary advantage of using generalized audit software packages to audit the financial statements?

Answer 5

The auditor may access information stored on computer files while having a limited understanding of the client’s hardware and software features