What tests may be conducted for identifying unauthorized program changes?

Q: How can Embedded Audit Modules in software be utilized in an audit?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: What actions to be taken on error/fraud discovery?

A: An auditor is a person who is held responsible for fraud or error detection as he or she is auditing…

Q: How do automated authorization procedures differ from manual authorization procedures?

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Q: What items could increase the risk of material misstatement?

A: Risk of material misstatement (ROMM) is a risk that the financial statements when audited will…

Q: How does Real Time Processing affect an audit?

A: Real-time data processing is the program for running multiple rows and columns of data during a…

Q: How audit programs that need to be made to detect vulnerabilities in the firewall?

A: Auditing for security is very important and requires frequent and strict auditing that covers…

Q: How can a poorly designed database result in unintentional loss of critical records?

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Q: What is lapping? What procedures can auditors employ to detect lapping?

A: Lapping: It refers to a type of accounting fraud that involves the hiding of misappropriated or…

Q: How does control risk affect the nature, timing, and extent of further audit procedures?

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Q: When can an audit of IT be performed without directly interacting with the system?

A: Auditing:   It is a systematic verification of the books of accounts of an organisation by an…

Q: Audit tests and fraud?

A: For any company auditor is appointed to give an opinion on the financial statements, whether they…

Q: What are some suggestions for risk management, typical response tactics, and IT system recovery…

A: Risk management:  A system of people, processes, and technology called risk management helps a…

Q: If detective controls signal error flags, why shouldn’t these types of controls automatically make a…

A:

Q: What is the benefit of Generalized Audit Software in an audit?

A: Definition:   Generalized audit software (GAS): The software which assists an auditor to perform…

Q: What is database conversion? Why is it risky activity, and what precautions should be taken?

A: Database Conversion: Database conversion is defined as the process of transferring the data from the…

Q: What is lapping?  How can it be detected by an auditor and how can it be prevented?

A: Lapping is an accounting fraud where cash stolen or cash misappropriation is concealed by altering…

Q: If detective controls signal error flags, why shouldn’t this type of controls automatically make a…

A: Definition:   Internal control: Internal control involves the norms and rules which are followed…

Q: Why might an auditor use a program flowchart?

A: Flowchart:   Flowchart is representation of procedures concerned with the transactions in the…

Q: Exactly what is the advantage of using Generalized Audit Software during an audit?

A: Definition: Generalized audit software (GAS) is a kind of software that supports an auditor in…

Q: What role does the audit trail play in the task of confirmation?

A: Definition: Audit trail: Audit trail refers to the sequential track of a transaction. The audit…

Q: What are the possible obstacles or hindrance of operational audi

A: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot, therefore, obtain…

Q: What is an audit program

A: Audit program An audit programme is a detailed, written statement designed by the auditor indicating…

Q: What is check kiting? How might auditors detect kiting?

A: Auditing refers to the process of scrutinizing the financial statement of the business entity and…