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solution 7-27 & 7-28

solution 7-27 & 7-28 -...

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Unformatted text preview: Chapter_}'_Solutions_Manuai [zoos-(e21 14:11:41} - Windows Internet Eitplurer Q HpGameg (at) Learn at HP 9PM wifiifiWBEtfl rum: - - )) 5% all: |gg-~ Ej YouTube--Am3ha- Met-... igchapteLLSnlutiorsMr-t x lgmmei;5_5nli{misfianu.- ‘ I a “ '3’“? El ' fl ' E} Peat ' ($399!? V 7-2? When evidence can be examined only in machine-readable form. auditors use computers to read and examine evidence. There are commercial audit software programs designed specifically for use by auditors, such as ACL Software and Interactive Data Extraction and Analysis (IDEA). Spreadsheet software packages can also be used by auditors to perform audit tests on data that is available only in machine~readab|e form. 7-28 The purposes of audit documentation software are to convert traditional paper-based documentation into electronic files and to organize the audit documentation. The benefits of audit documentation software. such as Automated Client Engagement (ACE). are as follows: I The auditor can more efficiently prepare a trial balance, lead schedules, supporting audit documentation. financial statements, and ratio analysis using the computer rather than by hand. I The effects of adiusting journal entries are automatically carried through to the trial balance and financial statements, making last- minute adjustments easier to make. I Tick marks and review notes can be entered directly into computerized files. I Data can be imported and exported to other applications. For example. a client's general ledger can be downloaded into ACE and tax intormation can be downloaded into a commercial tax preparation package after the audit is completed. v a Internet i Protected Mode: Dn QIOOSE V J5 "‘3‘ iTune: .I' [:i'IEFItELji... r: auditing an... l_ .lodha Aisha... El chapterlil w :olution b-... r auditing a] solution 6"” ...
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