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　　RELEVANT TO CAT QUALIFICATION PAPER 8 AND ACCA QUALIFICATION
　　PAPERS F8 AND P7
　　SPECIFIC ASPECTS OF AUDITING IN A
　　COMPUTER-BASED ENVIRONMENT
　　Information technology （IT） is integral to modern accounting and management
　　information systems. It is, therefore, imperative that auditors should be fully
　　aware of the impact of IT on the audit of a client’s financial statements, both in
　　the context of how it is used by a client to gather, process and report financial
　　information in its financial statements, and how the auditor can use IT in the
　　process of auditing the financial statements.
　　The purpose of this article is to provide guidance on following aspects of
　　auditing in a computer-based accounting environment:
　　? Application controls, comprising input, processing, output and master
　　file controls established by an audit client, over its computer-based
　　accounting system and
　　? Computer-assisted audit techniques （CAATs） that may be employed by
　　auditors to test and conclude on the integrity of a client’s
　　computer-based accounting system.
　　Exam questions on each of the aspects identified above are often answered to
　　an inadequate standard by a significant number of students – hence the reason
　　for this article.
　　Dealing with application controls and CAATs in turn:
　　APPLICATION CONTROLS
　　Application controls are those controls （manual and computerised） that relate
　　to the transaction and standing data pertaining to a computer-based
　　accounting system. They are specific to a given application and their objectives
　　are to ensure the completeness and accuracy of the accounting records and
　　the validity of entries made in those records. An effective computer-based
　　system will ensure that there are adequate controls existing at the point of
　　input, processing and output stages of the computer processing cycle and over
　　standing data contained in master files. Application controls need to be
　　ascertained, recorded and *uated by the auditor as part of the process of
　　determining the risk of material misstatement in the audit client’s financial
　　statements.
　　Input controls
　　Control activities designed to ensure that input is authorised, complete,
　　accurate and timely are referred to as input controls. Dependent on the
　　complexity of the application program in question, such controls will vary in
　　terms of quantity and sophistication. Factors to be considered in determining
　　these variables include cost considerations, and confidentiality requirements
　　with regard to the data input. Input controls common to most effective
　　application programs include on-screen prompt facilities （for example, a
　　request for an authorised user to ‘log-in’） and a facility to produce an audit
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　　SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED
　　ENVIRONMENT
　　JANUARY 2011
　　trail allowing a user to trace a transaction from its origin to disposition in the
　　system.
　　Specific input validation checks may include:
　　Format checks
　　These ensure that information is input in the correct form. For example, the
　　requirement that the date of a sales invoice be input in numeric format only –
　　not numeric and alphanumeric.
　　Range checks
　　These ensure that information input is reasonable in line with expectations. For
　　example, where an entity rarely, if ever, makes bulk-buy purchases with a value
　　in excess of $50,000, a purchase invoice with an input value in excess of
　　$50,000 is rejected for review and follow-up.
　　Compatibility checks
　　These ensure that data input from two or more fields is compatible. For
　　example, a sales invoice value should be compatible with the amount of sales
　　tax charged on the invoice.
　　Validity checks
　　These ensure that the data input is valid. For example, where an entity
　　operates a job costing system – costs input to a previously completed job
　　should be rejected as invalid.
　　Exception checks
　　These ensure that an exception report is produced highlighting unusual
　　situations that have arisen following the input of a specific item. For example,
　　the carry forward of a negative value for inventory held.
　　Sequence checks
　　These facilitate completeness of processing by ensuring that documents
　　processed out of sequence are rejected. For example, where pre-numbered
　　goods received notes are issued to acknowledge the receipt of goods into
　　physical inventory, any input of notes out of sequence should be rejected.
　　Control totals
　　These also facilitate completeness of processing by ensure that pre-input,
　　manually prepared control totals are compared to control totals input. For
　　example, non-matching totals of a ‘batch’ of purchase invoices should result in
　　an on-screen user prompt, or the production of an exception report for
　　follow-up. The use of control totals in this way are also commonly referred to
　　as output controls （see below）。
　　Check digit verification
　　This process uses algorithms to ensure that data input is accurate. For
　　example, internally generated valid supplier numerical reference codes, should　　3
　　SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED
　　ENVIRONMENT
　　JANUARY 2011
　　be formatted in such a way that any purchase invoices input with an incorrect
　　code will be automatically rejected.
　　Processing controls
　　Processing controls exist to ensure that all data input is processed correctly
　　and that data files are appropriately updated accurately in a timely manner.
　　The processing controls for a specified application program should be
　　designed and then tested prior to ‘live’ running with real data. These may
　　typically include the use of run-to-run controls, which ensure the integrity of
　　cumulative totals contained in the accounting records is maintained from one
　　data processing run to the next. For example, the balance carried forward on
　　the bank account in a company’s general （nominal） ledger. Other processing
　　controls should include the subsequent processing of data rejected at the point
　　of input, for example:
　　? A computer produced print-out of rejected items.
　　? Formal written instructions notifying data processing personnel of the
　　procedures to follow with regard to rejected items.
　　? Appropriate investigation/follow up with regard to rejected items.
　　? Evidence that rejected errors have been corrected and re-input.
　　Output controls
　　Output controls exist to ensure that all data is processed and that output is
　　distributed only to prescribed authorised users. While the degree of output
　　controls will vary from one organisation to another （dependent on the
　　confidentiality of the information and size of the organisation）， common
　　controls comprise:
　　? Use of batch control totals, as described above （see ‘input controls’）。
　　? Appropriate review and follow up of exception report information to
　　ensure that there are no permanently outstanding exception items.
　　? Careful scheduling of the processing of data to help facilitate the
　　distribution of information to end users on a timely basis.
　　? Formal written instructions notifying data processing personnel of
　　prescribed distribution procedures.
　　? Ongoing monitoring by a responsible official, of the distribution of output,
　　to ensure it is distributed in accordance with authorised policy.
　　Master file controls
　　The purpose of master file controls is to ensure the ongoing integrity of the
　　standing data contained in the master files. It is vitally important that stringent
　　‘security’ controls should be exercised over all master files.
　　These include:
　　? appropriate use of passwords, to restrict access to master file data
　　? the establishment of adequate procedures over the amendment of data,
　　comprising appropriate segregation of duties, and authority to amend
　　being restricted to appropriate responsible individuals
　　? regular checking of master file data to authorised data, by an
　　independent responsible official
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　　SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED
　　ENVIRONMENT
　　JANUARY 2011
　　? processing controls over the updating of master files, including the use of
　　record counts and control totals.
　　COMPUTER ASSISTED AUDIT TECHNIQUES （CAATs）
　　The nature of computer-based accounting systems is such that auditors may
　　use the audit client company’s computer, or their own, as an audit tool, to
　　assist them in their audit procedures. The extent to which an auditor may
　　choose between using CAATs and manual techniques on a specific audit
　　engagement depends on the following factors:
　　? the practicality of carrying out manual testing
　　? the cost effectiveness of using CAATs
　　? the availability of audit time
　　? the availability of the audit client’s computer facility
　　? the level of audit experience and expertise in using a specified CAAT
　　? the level of CAATs carried out by the audit client’s internal audit function
　　and the extent to which the external auditor can rely on this work
　　There are three classifications of CAATs – namely:
　　? Audit software
　　? Test data
　　? Other techniques
　　Dealing with each of the above in turn:
　　Audit software
　　Audit software is a generic term used to describe computer programs designed
　　to carry out tests of control and/or substantive procedures. Such programs
　　may be classified as:
　　Packaged programs
　　These consist of pre-prepared generalised programs used by auditors and are
　　not ‘client specific’。 They may be used to carry out numerous audit tasks, for
　　example, to select a sample, either statistically or judgementally, during
　　arithmetic calculations and checking for gaps in the processing of sequences.
　　Purpose written programs
　　These programs are usually ‘client specific’ and may be used to carry out tests
　　of control or substantive procedures. Audit software may be bought or
　　developed, but in any event the audit firm’s audit plan should ensure that
　　provision is made to ensure that specified programs are appropriate for a
　　client’s system and the needs of the audit. Typically, they may be used to
　　re-perform computerised control procedures （for example, cost of sales
　　calculations） or perhaps to carry out an aged analysis of trade receivable
　?。╠ebtor） balances.
　　Enquiry programs
　　These programs are integral to the client’s accounting system; however they
　　may be adapted for audit purposes. For example, where a system provides for
　　the routine reporting on a ‘monthly’ basis of employee starters and leavers,　　5
　　SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED
　　ENVIRONMENT
　　JANUARY 2011
　　this facility may be utilised by the auditor when auditing salaries and wages in
　　the client’s financial statements. Similarly, a facility to report trade payable
　?。╟reditor） long outstanding balances could be used by an auditor when
　　verifying the reported value of creditors.
　　Test data
　　Audit test data
　　Audit test data is used to test the existence and effectiveness of controls built
　　into an application program used by an audit client. As such, dummy
　　transactions are processed through the client’s computerised system. The
　　results of processing are then compared to the auditor’s expected results to
　　determine whether controls are operating efficiently and systems’
　　objectiveness are being achieved. For example, two dummy bank payment
　　transactions （one inside and one outside authorised parameters） may be
　　processed with the expectation that only the transaction processed within the
　　parameters is ‘accepted’ by the system. Clearly, if dummy transactions
　　processed do not produce the expected results in output, the auditor will need
　　to consider the need for increased substantive procedures in the area being
　　reviewed.
　　Integrated test facilities
　　To avoid the risk of corrupting a client’s account system, by processing test
　　data with the client’s other ‘live’ data, auditors may instigate special ‘test data
　　only’ processing runs for audit test data. The major disadvantage of this is that
　　the auditor does not have total assurance that the test data is being processed
　　in a similar fashion to the client’s live data. To address this issue, the auditor
　　may therefore seek permission from the client to establish an integrated test
　　facility within the accounting system. This entails the establishment of a
　　dummy unit, for example, a dummy supplier account against which the
　　auditor’s test data is processed during normal processing runs.
　　Other techniques
　　This section contains useful background information to enhance your overall
　　understanding.
　　Other CAATs include:
　　Embedded audit facilities （EAFs）
　　This technique requires the auditor’s own program code to be embedded
　　（incorporated） into the client’s application software, such that verification
　　procedures can be carried out as required on data being processed. For
　　example, tests of control may include the reperformance of specific input
　　validation checks （see input controls above） – selected transactions may be
　　‘tagged’ and followed through the system to ascertain whether stated controls
　　and processes have been applied to those transactions by the computer
　　system. The EAFs should ensure that the results of testing are recorded in a
　　special secure file for subsequent review by the auditor, who should be able to
　　conclude on the integrity of the processing controls generally, from the results
　　of testing. A further EAF, often overlooked by students, is that of an analytical
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　　SPECIFIC ASPECTS OF AUDITING IN A COMPUTER-BASED
　　ENVIRONMENT
　　JANUARY 2011
　　review program enabling concurrent performance of analytical review
　　procedures on client data as it is being processed through the automated
　　system.
　　Application program examination
　　When determining the extent to which they may rely on application controls,
　　auditors need to consider the extent to which specified controls have been
　　implemented correctly. For example, where system amendments have
　　occurred during an accounting period, the auditor would need assurance as to
　　the existence of necessary controls both before and after the amendment. The
　　auditor may seek to obtain such assurance by using a software program to
　　compare the controls in place prior to, and subsequent to, the amendment
　　date.
　　Summary
　　The key objectives of an audit do not change irrespective of whether the audit
　　engagement is carried out in a manual or a computer-based environment. The
　　audit approach, planning considerations and techniques used to obtain
　　sufficient appropriate audit evidence do of course change. Students are
　　encouraged to read further to augment their knowledge of auditing in a
　　computer-based environment and to practise their ability to answer exam
　　questions on the topic by attempting questions set in previous ACCA exam
　　papers.
　　Brian Pine is examiner for CAT Paper 8
　　小編寄語：成功與不成功之間有時距離很短——只要后者再向前幾步。
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