Audit Software substantive procedures

Question 1

What does audit software consist of?

Answer 1

Computer programs used by auditor, as part of their auditing procedures to process data of audit significance from entity’s accounting system

Question 2

What may audit software for substantive procedures consist of?

Answer 2

Generalised audit software or custom audit software

Question 3

What does generalised audit software allow?

Answer 3

Auditors to performt ests on computer files and databasesEx

Question 4

Examples of actions of generalised audit software? (Reading)

Answer 4

Reading and extracting data from client’s systems for further testing

Question 5

Examples of actions of generalised audit software? (Selecting)

Answer 5

Selecting data that meets certain criteria

Question 6

Examples of actions of generalised audit software? (Performing)

Answer 6

Performing arithmetic calculations on data

Question 7

Examples of actions of generalised audit software? (Facilitating)

Answer 7

Facilitating audit sampling

Question 8

Examples of actions of generalised audit software? (Producing)

Answer 8

Producing documents and reports

Question 9

Examples of generalised audit software?

Answer 9

ACT and IDEA

Question 10

What is custom audit software?

Answer 10

Written by auditors for specific tasks when generalised audit software cannot be used