Impacts of Audit Software on Internal and External Audit Cause and Effect Essay

Impacts of Audit Software on Internal and External Audit
The paper discusses how audit software affects internal and external audits.
# 153862 | 1,634 words | 4 sources | APA | 2013 | KE
Published on May 09, 2014 in Computer and Technology (Software) , Accounting (General)


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Description:

This paper examines the increased use of technology in accounting activities and the resulting increased demand for accounting audit software. In particular, the paper explores how audit software has both positive and negative impacts on internal and external auditing process. The paper concludes that the auditing software allows auditors to improve their efficiency because audit software improves their accuracy and speed.

Table of Contents:
Introduction
Background
Accounting Audit
The Role of Internal and External Auditors
Audit Software
The Impact of Audit Software on Internal and External Audit
Internal Audit
The Positive Impact of the Audit Software on the Internal User
The Negative Impact of the Audit Software on the Internal User
External audit
The Positive Impact of the Audit Software on the External User
The Negative Impact of the Audit Software on the External User
Conclusion
Recommendation

From the Paper:

"Many modern internal auditors recognize that information and IT are crucial in the management of a business' financial data and information. Some internal auditors use auditing software for continuous monitoring of their organization's data online. Some audit software enables users to access audit information and documentation despite the location or stage of audit process. This ability to keep track on the pulse of a business is especially important when a business engages in decentralized or geographically dispersed operations. The increasing speed and power of computers help to improve the ability of an internal auditor to perform effective audits. With the help of such software, internal auditors can use computers to analyze data to monitor risks, examine trends and unusual transactions, and highlight deviances from what auditors consider normal for the organization. Internal auditors use audit software to update multi-year audit plans and track changes in risks associated with certain auditable activities."

Sample of Sources Used:

  • Agtarap-San, J. D. (2007). Fundamentals of accounting: Basic accounting principles simplified for accounting students. Bloomington, IN: AuthorHouse.
  • Bragg, S. M. (2011). The new CFO financial leadership manual. Hoboken, N.J: Wiley.
  • Moorthy, M. K., Seetharaman, A., Mohamed, Z., Gopalan, M., & San, L. H. (2011). The impact of information technology on internal auditing. African Journal of Business Management, 5(9), 3523-3539.
  • Siegel, J. G., & Shim, J. K. (2006). Accounting handbook. Hauppauge, NY: Barron's

Cite this Cause and Effect Essay:

APA Format

Impacts of Audit Software on Internal and External Audit (2014, May 09) Retrieved May 19, 2019, from https://www.academon.com/cause-and-effect-essay/impacts-of-audit-software-on-internal-and-external-audit-153862/

MLA Format

"Impacts of Audit Software on Internal and External Audit" 09 May 2014. Web. 19 May. 2019. <https://www.academon.com/cause-and-effect-essay/impacts-of-audit-software-on-internal-and-external-audit-153862/>

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