week 12 - ACC5130_Ch9_IS_Audit

week 12 - ACC5130_Ch9_IS_Audit - -1-Auditing...

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Unformatted text preview: -1-Auditing ComputerizedInformation SystemsAuditing ComputerizedInformation SystemsDr. Myles SternACC 5130(LEC13)-2-Auditing ComputerizedInformation SystemsAuditing ComputerizedInformation SystemsLinkages to other coursesLinkages to other courses$Which courses cover many of these topics ingreater depth?%ACC 5996 Auditing, Assurance and Attestation%ACC 7165 Internal Audit I%ACC 7180 Auditing$Why present this material here?%Related to other topics covered primarily in the systems class%Some students haven't yet taken an auditing class.%Review for students who have had auditing-3-Institute of Internal AuditorsInstitute of Internal AuditorsAudit scope standardsAudit scope standards1.Reliability and integrity of operating and financialinformationFinancial Audit-4-Institute of Internal AuditorsInstitute of Internal AuditorsAudit scope standardsAudit scope standards2.Are systems (designed to comply with policies,laws, etc.) being followed?3.How are assets safeguarded? Verify existence ofassets.Information Systems Audit-5-Institute of Internal AuditorsInstitute of Internal AuditorsAudit scope standardsAudit scope standards4.How effectively and efficiently are resourcesbeing used?5.Are operations and programs meeting their plansand objectives?Operational Audit-6-Institute of Internal AuditorsInstitute of Internal AuditorsAudit scope standardsAudit scope standards$Authors' comment (page 331): "To achieve(these) objectives, an internal auditor must bequalified to examine all elements of thecomputerized AIS and use the computer as a tool. . ."$This is a strong statement.-7-Types of AuditsTypes of AuditsNote how these "different" audits may beinter-related.$Financial audit includes verification of assets.$CPA's role with respect to internal controls%Communication of material weaknesses%SOX%Planning the financial audit$Efficiency and effectiveness%The "going concern" assumption-8-The Audit ProcessThe Audit ProcessFour stagesFour stages&Planning&Collecting Evidence&Evaluating Evidence&Communicating ResultsSee figure 9-1 for activities within each phase.-9-Audit PlanningAudit Planning$Establish scope and objectives.$Organize audit team.$Develop knowledge of business operations.$Review prior audit results.-10-Audit PlanningAudit PlanningContinuedContinued$Identify risk factors....
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This note was uploaded on 01/28/2011 for the course ACC 5130 taught by Professor Schmidt during the Fall '10 term at Wayne State University.

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week 12 - ACC5130_Ch9_IS_Audit - -1-Auditing...

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