To obtain evidence that online password access controls are properly functioning, an audi likely
Added by Laura H.
Step 1
Step 1: Identify the scope of the audit by determining which online systems and applications require password access controls to be tested. Show more…
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As an internal auditor for the state auditor's office, you are assigned to review the implementation of a new computer system in the state welfare agency. The agency is installing an online computer system to maintain the state's database of welfare recipients. Under the old system, applicants for welfare assistance completed a form giving their name, address, and other personal data, plus details about their income, assets, dependents, and other data needed to establish eligibility. The data is checked by welfare examiners to verify their authenticity, certify the applicant's eligibility for assistance, and determine the form and amount of aid. Under the new system, welfare applicants enter data on the agency's website or give their data to clerks, who enter it using online terminals. Each applicant record has a "pending" status until a welfare examiner can verify the authenticity of the data used to determine eligibility. When the verification is completed, the examiner changes the status code to "approved," and the system calculates the aid amount. Periodically, recipient circumstances (income, assets, dependents, etc.) change, and the database is updated. Examiners enter these changes as soon as their accuracy is verified, and the system recalculates the recipient's new welfare benefit. At the end of each month, payments are electronically deposited into the recipient's bank accounts. Welfare assistance amounts to several hundred million dollars annually. You are concerned about the possibilities of fraud and abuse. a. Describe how to employ concurrent audit techniques to reduce the risks of fraud and abuse. b. Describe how to use computer audit software to review the work welfare examiners do to verify applicant eligibility data. Assume that the state auditor's office has access to other state and local government agency databases.
Jennifer S.
Performance of an analytical procedure requires the use of information produced by the entity being audited (IPE). Required: a. Whenever an auditor uses IPE in an audit procedure, the auditor must ensure that the information is reliable. According to auditing standards, when using IPE as audit evidence, what procedures should the auditor evaluate to determine whether the information is sufficient and appropriate for purposes of the audit? (You may select more than one answer. Single click the box with the question mark to produce a checkmark for correct answers and double click the box with the question mark to empty the box for wrong answers.) Check all that apply: - Determine the financial statement items or accounts and assertions affected. - Determine the nature, timing, and extent of the population to be tested. - Determine the overall purpose and specific objectives of the Audit Data Analytic. - Obtain audit evidence about the completeness and accuracy of the information. - Evaluate whether the evidence is sufficiently precise and detailed for the auditor's purposes. - Evaluate whether the preferred tools will work efficiently with the data.
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