Technology to Improve Internal Audit Research Paper

Technology to Improve Internal Audit - question Paper ExampleConclusion 7 Name of the Student Name of the Professor Course deem Date of the Paper Technology to Improve Internal Audit 1. Introduction The inborn audit is specify as the process of an autonomous appraisal function that is established within the organization to evaluate and meet the activities as a service. The main objective of the internal audit is to assist the members of the organization to effectively finish their responsibilities. The end result of the internal audit is to provide the analysis, assessment, suggestion, direction, and information regarding the reviewed activities. The end objective is promoting control all over the reasonable cost (Kagermann 4 Trenerry 266 Pickett 325). The primary role of the internal audit has undergone radical changes. After the grounding of Sarbanes Oxley (SOX) Act in the USA in 2002 the internal audit has started to redeploy the financial control auditing (Leung, barrel m aker and Perera 785). This paper foc physical exertions on how technology has improved the internal audit. 2. Literature Review 2.1 New methodologies in commit The recent development in the technology has led to the use of more sophisticated methods for internal auditing in the organization. The methodologies that are currently in use are (Dittenhofer 462) Computer assisted audit techniques (CAAT) Expert governing body Analytical Auditing 2.1.1 Computer assisted audit techniques The most dynamic way of processing audit is the use of reckoner assisted audit techniques (CAAT). This technology is not a new one, but acquires a ceaseless up-gradation to increase the efficiency of auditing account inventories, receivables, fixed assets accumulation, and accounts payable. This method consists of the process of downloading the subject files and testing these files irrespective of the computer system of the auditee. The CAAT process eliminates the hand processed and time consuming subst antive testing. It produces the automatic computer generated running(a) paper, which is displayed on the basis of by difference. There are several other computer applications that put up the audit operation, reduce the time consumed, and also increase the accuracy of the work (Dittenhofer 462-463). 2.1.2 Analytical Auditing The use of the analytical auditing procedure is the recent development in the process of internal auditing. This process leads to the development of the blood among the operational or physical aspects and financial aspects. The procedures claim that there must exist some relationship and unless they exist, some mitigating circumstances must be there, or if not some investigation should be through with(p) to determine the reason of inexistence. The technique tends to find the rural areas that require more in-depth investigation process and also identifies the areas that require a very little in-depth investigation. This method can be used as the potential ar ea of interest. Without the indication of the problem absence and further examination, this process cannot be used in a confirmatory way (Dittenhofer 463). 2.1.3 Expert System The procedure of the expert system is another development that enhances the operation of internal auditing. This procedure includes computer political programs that are identical to human reasoning and can be used to dashing the auditor to investigate certain situations or the audit activities that should be considered as the response to the situation that appears to be unusual. Hence, two capacities are displayed by the functioning of the expert system. Firstly, the system is built on the computer program that records information automatically and compares it to the standard information that is already present to find the situation that