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IMPACT OF IT ON AUDIT PROCESS - Coggle Diagram
IMPACT OF IT ON AUDIT PROCESS
Types of control in CIS Environment
General control
maintain integrity of information and security of data
Data centre and network operations
no unauthorised access to programmes, files and system of documentation
should be properly maintained and backup
System software acquisition, change and maintenance control
strong control to ensure proper approval for purchase of new system, changes and maintenance of existing software
control computer function and allow the application to run
Access security control
physical protection and loss of assets and information through theft and unauthorised use
recovery procedures for loss data
Application system acquisition, development and maintenance controls
ensure reliability of information processing
better to have involvement of internal and external auditors in early stage of design system to ensure proper controls incorporate to the system
Application control
manual or automated procedures that operate at business process level and apply to the processing of individual applications
design to ensure integrity of accounting records
ensure transaction occurred and authorised and complete and accurately recorded and processes
Category
Data capture control
ensure transactions recorded in application system and only once
rejected transaction identified, controlled, corrected and re-entered
Data validation controls
ensure accuracy assertion and done at various stage
Processing controls
ensure proper processing of transactions
Outputs controls
report distribution logs contain schedule of when reports prepared, who prepared and who receive
cheque, documents and other printed documents
Error control
ensure most transactions errors can be identified by data capture and data validation controls
errors must be corrected and resubmitted after identified
How can CIS may affect audit process
Planning
Risk assessment
Skills and competence
Audit procedures
obtain understanding accounting and internal control
perform test of control and substantive test