This research work “Computerized Audit System: Issues, Problems and Prospects” (A Case Study of Akintola Williams Deloitte Abuja). Tries to examine the advantages of computerized auditing. To assess the computerized audit procedure in Akintola Williams Deloitte and see how they combat fraud and errors. The methods of data collection used were the primary and secondary sources. Simple percentage used to analyze the research questions. Senior Auditors 40%, Middle class Auditors 40% and Management 20%. The computerized auditing is however not totally lost because since it aids the auditor to discover and advise claims on areas where profitable investment can be made and areas where problems are likely to arise. The computer aim of auditing firm should be made to produce a computer system manual to enable the auditor develop a relevant audit computerized system.
TABLE OF CONTENTS
Chapter One
Introduction
Chapter Two
Literature Review
Chapter Three
Research Methodology
Chapter Four
Data Analysis and Presentation
Chapter Five
Summary, Conclusion and Recommendation
Reference 67
Appendix 69
CHAPTER ONE
INTRODUCTION
Computerized Auditing System: A computer is an electronic device, which works faster than the ordinary human brain. Although a computer has no brain of its own to reason like a human being, it has in-built memories that enable it perform complex mathematical problems as fast as possible, faster than the human brain. The background of computing aids can be traced to China where merchants first made use of ABACUS, while the history of modern day computers is traced to French where Pascal in 1642 invented the First Machine for doing the four fundamental operations of arithmetic in money. This was improved upon by Hervrith in 1671 and recommended for use in the large volume of astronomical calculations required at that time. The first analoque computer was derived from Kelvin Tidal analysis for producing tides.
Since the first office computer LED Ilyans end co-electronic Office was introduced in 1953, machine have increased on speed, reliability and new used in wide range of application without any change in the fundamental principles. The introduction of computer has made accounting such as auditing easier and quicker to perform. The computer is capable of performing a months transaction of auditing work of an organization in a few hours thus reducing the job of the Auditor. This auditor need to learn about computer programming or at least should be able to follow the transaction trail up to the paint where they are keyed into the computer in form of input since there is usually a Loss of Visible Evidence (LOVE) during operation. The Auditor should be able to relate the input to output. It is also advisable for an Auditor to take a course in computer programming in output data in course of his audit trail.
The fast developing of technology, paper transactions are fast disappearing, consequently, source documents are less available. The introduction and adoption of computer to the Auditor business has led to revolution in data processing methods. They have served as a catalyst to auditing world in the area of efficient, effectiveness, timely and accurate operation of business.From the foregoing, computerized audit as a way of checking the efficiency and accuracy of data procedures present a fascinating study. An audit is an independent or objective examination of the financial statement of an entity and the expression of an opinion. It could be inferred that the primary reason of conducting an audit is to enable the Auditor make a report to the effect that the financial statement as prepared by officers of an establishment gives a true and fair view, otherwise to what extent they disagree with the report. The auditor along side help to ascertain compliance of the organization to operational policies and prescribed standard. This is aimed at increasing the acceptability, dependability and usefulness of financial statement.
The research will be concerned with the problems faced by auditors and will offer solution to them. Those problems are:
Hi: A computerized accounting has a significant influence on the auditor
Ho: A computerized accounting system has no significant influence on the auditor.
RESEARCH QUESTION
In line with the above purpose of the study some questions are design to enable the research address the issue. These questions are:
The purpose of the research is as follows:
This research work is conducted with computerized audit approach as it is obtained at Akintola Williams Deloitte. It also emphasizes on the assessment of computerized procedure in achieving effectiveness and efficiency in audit operations. Included is the analysis of the problems associated with the new computerized system of auditing firms in relation to its effects in the operation of the firms.
The significance of the study is derived from the impact of computerized auditing system and also the value ascribed to it by the society.
The study has a significant impact on auditors.
Impact on Auditors
It will consider computerized auditing system, records auditing system, records and accurate way of applying computer in keeping records in Akintola Williams Deloitte Abuja.
The decision makers will also immensely from the appropriate information would be available for decision making and planning.
The researcher will also find the significance of the project in their quest for knowledge and also as a useful contribution to their field of study.
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