When an online real time OLRT It processing system is in use internal control can be strengthened by?

Principles of Auditing & Other Assurance Services - 21st Edition

e When an online real time OLRT IT processing system is in use internal control

When an online real-time (OLRT) IT processing system is in use, internal control can be strengthened by: 1. Providing for the separation of duties between data input and error handling operations

Which of the following is a general computer control?

General computer controls include controls over the information technology (IT) environment, computer operations, access to programs and data, program development and program changes. In 2016 we focused on the following control categories: management of IT risksinformation security

Which of the following is an advantage of generalized audit software?

Which of the following is an advantage of generalized audit software packages? Generalized audit software allows the auditors to independently process their clients’ records. The software is flexible and may be used on a variety of IT systems.

Which of the following strategies will a CPA most likely consider in auditing an entity?

Which of the following strategies would a CPA most likely consider in auditing an entity that processes most of its financial data only in electronic form, such as a paperless system? Continuous monitoring and analysis of transaction processing with an embedded audit module.

When erroneous data are detected by computer program controls such data may be excluded from processing and printed on an error report?

When erroneous data are detected by computer program controls, data may be excluded from processing and printed on an exception report. The exception report should probably be reviewed and followed up by the: Data control group.

How do you audit a computer system?

Here are the vital steps of performing a system audit.

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What are the uses of computer in auditing?

Computer Assisted Audit Techniques are used in performing several auditing measures and processes, including: Analytical procedures, as: when discovering major irregularities or variations.Implementing modules to obtain data for audit testing.Testing of application controls, as in evaluating the running of a program

What are computer assisted audit techniques CAATs that can be used in e commerce environment?

Computer Assisted Audit Techniques (CAATs) is the tool which is used by the auditors. This tool facilitates them to make search from the irregularities from the given data. With the help of this tool, the internal accounting department of any firm will be able to provide more analytical results.

What are the general computer controls?

General computer controls include controls over the information technology (IT) environment, computer operations, access to programs and data, program development and program changes.

What are examples of general controls?

General controls include software controls, physical hardware controls, computer oper- ations controls, data security controls, controls over the systems implementation process, and administrative controls.

What is general control?

IT general controls (ITGC) are controls that apply to all systems, components, processes, and data for a given organization or information technology (IT) environment.

Which of the following is a component of general controls?

General controls are those that relate to all aspects of the IT function. They include controls related to administration, software acquisition and maintenance, physical and on-line security, backup and disaster recovery planning, and hardware controls

What are the advantages of generalized audit software?

The key benefits of Generalized Audit Software areuf0b7Improved efficiencies by automating manual proceduresuf0b7Reduced risk by testing entire populations reducing reliance on samplinguf0b7Added value by providing more detailed insight into underlying recordsuf0b7Increasing the range of testing available to the AuditorSome of the

Which of the following is an advantage of generalized audit software over spreadsheets?

Which of the following is an advantage of generalized audit software over spreadsheets? Common analytical routines can be automated. It enables analysis of more than one dataset.

What does generalized audit software do?

Purpose. Generalized audit software (GAS) is the tool use by auditors to automate various audit tasks. As most accounting transactions are now computerized, auditing of accounting data is also expected to be computerized as well.

What are the basic features of generalized audit software?

uf071Generalized Audit Software GAS consists of a series of computer program routines that can read computer files, select desired information, perform repetitive calculations, and print reports in an Auditor-specified format.

What is an audit by a CPA?

What is an audit? An audit is the highest level of financial statement service a CPA can provide. The purpose of having an audit is to provide financial statement users with an opinion by the auditoron whether the financial statements are prepared in accordance with the proper financial reporting framework.

What factors should an auditor consider?

Assuming independence and requisite technical abilities, the pre- acceptance evaluation of a prospective audit engagement normally focuses on three factors: 1) personal integrity of the prospective client’s management and principals, 2) presence of circumstances pointing towards unusual risks in the engagement or

What factors should an auditor consider before accepting a company as an audit client?

Client acceptance evaluation should include General Considerations, Management Integrity, Management Commitment to GAAP, Management Internal Control Consciousness, Financial Strength of the Client, and Other Risk Factors.

Does an audit have to be done by a CPA?

An external audit is performed by an external auditor, who works for an independent accounting firm. Generally, an external auditor must be a Certified Public Accountant (CPA) and must follow the U.S. Generally Accepted Auditing Standards (GAAS).