Beruflich Dokumente
Kultur Dokumente
Negatives/Disadvantages
Positives/ Advantages
Access to the entity’s raw data and managements report → greater opportunity to perform analytical
procedures
IT Benefits
IT Risks
Use of IT Professional
Auditor tests input data, processes data independently, and then compare the system results with the
independently calculated results. Emphasis: input and output stages of transaction processing.
Transaction Tagging → electronically tag or mark the specific transaction and follow it though the
client’s system.
→ Allows to test both computerized and manual handling of transactions
Embedded Audit Modules → a part of an application system that is designed to indentify and
report specific transactions or other information on a predetermined criteria
Example: all transactions affecting a specific account code greater than $500
Embedded audit models are usually built into the application system when the program is developed
to assure controls are operating effectively
Test Data → use the application program to process a set of test data, the results of which are already
known.
Performed off-line and under auditor’s control
Contains the types of invalid info the auditor is interested in
Live computer files are not affected at any way
Integrated Test Facility (ITF) → very similar to the test data approach except that the auditor’s test
data is commingled with the live data.
Performed on-line
The client’s personal is not aware of test performed
Parallel Simulation (reperformance test) → the auditor reprocesses some or all of the client’s live
data using the auditor’s software and then compares the results with the client’s files
With controlled processing → observe an actual processing run and compares the actual result with
the expected results
With controlled re-processing → use an archived copy of the program in question (auditor’s control
copy) and the program in place → differences indentify any changes to the transaction program
Parallel Simulation can be achieved though the use of a package program or utility or produced by
GASPs
→ Generalized Audit Software Packages (GASPs) allow the auditor to perform test of controls and
substantive test of details directly on the client’s system
→ The auditor is required to define the client’s system to the GASPs and then specify tests and
selections
Advantages
Disadvantages
Analytical procedures are required at the review stage → must be performed by a partner of
manager who has a comprehensive knowledge of the client’s industry and business
Purpose: to evaluate the overall FS presentation and to assess the conclusions reached
→ the auditor might discover unusual balances → should consider additional audit procedures