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Income Tax Audit

Income Tax Audit

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  • 1. INFORMATION TECHNOLOGY IN AUDITING A REVOLUTIONARY CONCEPT
  • 2. INTRODUCTION
    • Maintenance Of Accounts In Computerized Networks
    • Process Of Collecting And Evaluating Evidence
    • Examinations Of Controls Within Computerized Environment
  • 3. REASONS FOR IT AUDITING
    • Absence Of Input Documents
    • Lack Of Visible Transaction Trail
    • Lack Of Visible Output
    • Accessibility Of Data And Computer Program
  • 4. APPROACHES
    • The Black Box Approach
    • The White Box Approach
    • Computer Program Approach
  • 5.  
  • 6. IT AUDIT PROCESS
    • Obtain An Understanding Of The Organization Environment
    • Identify Risks That Result In Material Mis-statement
    • Evaluate Organization Response To Those Risk
    • Asses The Risk Of Material Mis - statement
    • Evaluate Results And Issue Reports
  • 7. CAAT
    • Computer Assisted Audit Techniques
    • Tool For Auditors To Gather Evidences Independently
    • To Gain Access And To Analyze Data For Pre-Determined Audit Objective
    • Technical Auditing Working Papers
  • 8. AUDIT SOFTWARE
    • Generalized Audit Packages
    • Purpose Written Software
    • Embedded Audit Facilities
    • Program (parallel) Simulation
    • Utility Programs
  • 9. TEST DATA
    • Test Packs
    • Integrated Test Facility
    • Data File Interrogation
  • 10. MISCELLANEOUS TECHNIQUES
    • System Activity File Interrogation
    • Program Code Analysis
    • Flow Chart Review
  • 11. A C I
    • Will Organization's Computer System Be Available For Business At All Times When Required? (Availability)
    • Will Information In The System Be Disclosed Only To Authorized Users? (Confendiatility)
    • Will The Information Provided By The System Always Be Accurate, Reliable, And Timely? (Integrity)
  • 12. CONTROLS
    • Input Controls
    • Processing Controls
    • Output Controls
  • 13. MANUAL VS COMPUTERISED AUDIT
    • Complexity Of Accounting System
    • Audit Trails
    • Internal Control Systems
    • Audit Planning
    • Consequences Of Errors
  • 14.  
  • 15. LIMITATIONS
    • Knowledge Of Computer Programs
    • Understand The Computer Program Language
    • Very Expensive
    • Dependence More On Other Persons
    • Settings of Software
  • 16.  
  • 17. THANK YOU BY, PREM KUMAR .S. PRADEEP KUMAR .N. SURESH BABU .R. KIRAN KUMAR