week 6 - auditing software

Question 1

What are limitations of auditing software

Answer 1

Can only conduct post auditing and not concurrent auditing

cannot determine system’s propensity for error

cannot analyze processing logic in system

Question 2

Why is auditing software needed

Answer 2

Helps with auditors who are not computer savvy,

Diversity of today’s computer systems make data retrieval, manipulation more difficult

Cater to fast changing auditing requirements

Question 3

3 Capabilities of auditing software

Answer 3

1. Read different formats of data
2. Select data
3. Sorting and merging files
4. Performing mathematical functions on data
5. Categorization and frequency analysis
6. Formatting and editing of data for report generation

Question 4

3 Tasks performed by auditing software

Answer 4

1. Examine quality of data
2. Examine quality of system processes
3. Examine existence of entities data presents
4. Undertake analytical review

Question 5

2 other forms of auditing software

Question 6

2 other forms of auditing software