14. Analysis, Evaluation, Documentation, and Supervision

Question 1

What are the characteristics of Generalized Audit Software (GAS)?

Answer 1

1. Auditor loads copy of the clients production data onto the auditor’s computer
2. Limitation is only used on hardware compatible with the operation system
3. Advantage is specific understanding of client’s hardware or software is not required.

Audit Command Language (ACL) and Interactive Data Extraction and Analysis (IDEA)

Question 2

What are the characteristics of Test Data?

Answer 2

1. Assess controls by seeing how the system handles good dummy and bad dummy data.
2. Auditor created data

Question 3

What are the characteristics of Parallel Simulation?

Answer 3

1. Subjects client data to auditor-created programs
2. Auditor needs technical knowledge

Question 4

What is Data Mining and Extraction?

Answer 4

1. Copy of client records

Question 5

What are the characteristics of Integrated Test Facility (ITF)

Answer 5

1. Auditor creates fictitious entity on client’s live production system to observe results of the system/processes.

Question 6

What are the characteristics of Embedded Audit Module?

Answer 6

1. Integral part of an application system
2. Continuous monitoring
3. Disadvantage need to be programmed and the system needs to allow them