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Can auditing can be carried out in a computerized accounting?

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Can auditing can be carried out in a computerized accounting?
posted Jun 21, 2018 by Caroline Makena

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Yes it can be...

The audit process for a computerized accounting system involves five main steps:
conducting the initial review (planning the audit);
reviewing and assessing internal controls;
compliance testing (testing the internal controls);
substantive testing (testing the detailed data);
and reporting (conclusions and findings).

The auditor(s) should reach an understanding with the client concerning the scope and limitations of the audit from the very beginning. This will facilitate the accomplishment of the audit objectives in an effective and efficient manner.

answer Jun 22, 2018 by Salil Agrawal
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