Which of the following tasks could not be performed when using a generalized audit software package?

1. Which of the following is not a function that can be performed by generalized audit software gas )?
2. What are the basic features of generalized audit software?
3. What is the commonly used example of Generalised audit software?
4. Which of the following audit procedures would an auditor be least likely to perform using a generalized audit software?
5. What is the importance of CAATs in audit work?
6. What is the purpose of integrated test facility?
7. What is embedded audit module?
8. How does the internal audit differ from an external audit?
9. For which of the following would an internal auditor most likely use attribute sampling?
10. What is audit software used for?
11. What is the medium through which an auditor express his opinion on the state of affairs of the client's business?
12. Which of the following is not true about opinion of financial statement?
13. What does an auditor have to do prior to issuing a report on internal control over financial reporting?
14. When auditing a public company the auditor must form an opinion?

Which of the following is not a function that can be performed by generalized audit software gas )?

Features include mathematical computations, stratification, statistical analysis, sequence checking, duplicate checking, and re-computation. To keep an independent log of access to computer application software is not a function of generalized audit software.

What are the basic features of generalized audit software?

Functions of generalized audit software include importing computerized data; thereafter other functions can be applied: the data can be e.g. browsed, sorted, summarized, stratified, analyzed, taken samples from, and made calculations, conversions and other operations with.

What is the commonly used example of Generalised audit software?

Examples of GAS include the audit command language (ACL), IDEA and ProAudit. These software packages allow auditors to interrogate a variety of accounting systems (Debreceny et al., 2005) and conduct a 100 percent analysis of a client's financial data.

Which of the following audit procedures would an auditor be least likely to perform using a generalized audit software?

Which of the following audit procedures would an auditor be least likely to perform using a generalized computer audit program? Investigating inventory balances for possible damaged goods.

What is the importance of CAATs in audit work?

The use of computer-assisted audit techniques (CAATs) serves as an important tool for the IS auditor to evaluate the control environment in an efficient and effective manner. The use of CAATs can lead to increased audit coverage, more thorough and consistent analysis of data, and reduction in risk.

What is the purpose of integrated test facility?

An integrated test facility (ITF) creates a fictitious entity in a database to process test transactions simultaneously with live input. ITF can be used to incorporate test transactions into a normal production run of a system. Its advantage is that periodic testing does not require separate test processes.

What is embedded audit module?

Embedded audit modules (EAM) are sections of code built into application programs that capture information of audit significance on a continuous basis. The implementation of EAMs is presented using INGRESS a relational database management system.

How does the internal audit differ from an external audit?

Internal auditors are hired by the company, while external auditors are appointed by a shareholder vote. ... Internal auditors will examine issues related to company business practices and risks, while external auditors examine the financial records and issue an opinion regarding the financial statements of the company.

For which of the following would an internal auditor most likely use attribute sampling?

The most common use of attribute sampling in auditing is to evaluate the effectiveness of a particular control. The internal auditor tests the rate of deviation from a prescribed control to determine whether the occurrence rate is "acceptable" and, accordingly, whether reliance on that control is appropriate.

What is audit software used for?

Audit software is commonly used to help analyze and test accounting records. Audit software is a type of computer program that performs a wide range of audit management functions. Some of the most common functions are database sampling, and the generation of confirmation letters for clients and vendors.

What is the medium through which an auditor express his opinion on the state of affairs of the client's business?

The auditor's report is the medium through which he expresses his opinion or, if circumstances require, disclaims an opinion. In either case, he states whether his audit has been made in accordance with the standards of the PCAOB.

Which of the following is not true about opinion of financial statement?

His opinion is no guarantee to future viability of business.

What does an auditor have to do prior to issuing a report on internal control over financial reporting?

Prior to issuing a report on internal controls over financial reporting, an auditor is required to: Communicate to management, in writing, all control deficiencies identified during the audit and inform the audit committee from the internal audit.

When auditing a public company the auditor must form an opinion?

8. When auditing a public company, the auditor must form an opinion on the effectiveness of internal control over financial reporting, or issue a disclaimer in the event of a scope limitation.