- 8 Marks
AA – Nov 2018 – L2 – Q4a – Audit and Assurance Risk Environment
Identifies audit problems likely to be encountered when a client shifts from manual to computer-based accounting systems.
Question
a. All Souls Ltd is the audit client of Objectivity Auditors, a firm of Chartered Accountants. All Souls Ltd has been operating a manual system of accounting for the past 10 years. All Souls Ltd is contemplating the acquisition of a new accounting software to facilitate the preparation of its accounting records.
Required:
As an audit senior of Objectivity Auditors, advise your audit team on the problems which are likely to be encountered by auditors while a client is moving from manual-based accounting records to computer-based accounting records. (8 marks)
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