Do Auditors Need to Have in-Depth Knowledge of Information...

Do auditors need to have in-depth knowledge of information technology? Yes, auditors need to have in-depth knowledge of information technology. Networks and computers deliver the most information needed for auditing to work. For it to be effective, auditors have to use the computer as an auditing tool, audit automated systems and data, and understand the business purposes for the systems and the situation in which the systems operate. The other important uses for networks and computers by auditors are in audit administration. By pursuing new uses for computers and communications, auditors can direct their activities more effectively and improve their skill to review systems information. Automated tools give auditors the chance to increase†¦show more content†¦This has been stated in internal control over hazardous material where the critical audit s objective was to review controls over the procurement, distribution, storage, and disposal of hazardous materials. But another standpoint, the author gives an example of workforce reduction program where CAATT used to review the efficiency and effectiveness of this program, personnel information system, and payroll system, the audit was successfully provides senior management with an assessment of the effectiveness of the program. Also how auditor inspected the controls over the closure process of a production plant. In one situation, an audit team helps the organization to determine whether equipment and inventory items were sold at an appropriate price, and properly safeguarded to prevent theft or loss. The CAATT developed for this closure were successfully used and reduced timing of the planning phase generally by more than 50%. And determine the benefits and effectiveness of CAATT in automating audit functions in the organization and allowed improvement of efficiency and effectiveness of auditing process be established. But the author has not provided any research survey and reports to support and justi fy his statements. The analysis of how CAATT automating of audit function are only based on survey and suggestion of unverifiable sources. As audit tools are growing more powerfulShow MoreRelatedMarketing Manager Vs. Internal Auditor1688 Words   |  7 PagesInternal Auditor I’m currently working as a Fraud Risk Analyst for Best Western International, where I use evidence, statements and testimony to identify and analyze fraudulent activity and trends to help lower one of today’s largest hotel chain’s fraud risk. Even though, my position normally requires the individual to have a Bachelor’s degree in the Hospitality Industry, Accounting, Finance, Administration or a similar field, my experience within the company and analytical abilities have proven toRead MoreIFAC and APB: Ethical Standards for Accountants Essay1552 Words   |  7 Pagesin providing independent audit and assurance services. 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