Many Auditors Use Generalized Audit Software to Assist Them in the Examination

question 39

Essay

Many auditors use generalized audit software to assist them in the examination of clients' computer records.
a.Describe what is meant by generalized audit software.
b.List two advantages of the use of generalized audit software.
c.List three functions that may be performed with this type of software.

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Definitions:

Epidemic

A widespread occurrence of an infectious disease in a community at a particular time.

Fuel-Efficient

describes vehicles or machinery that use less fuel to achieve a certain distance or task, thereby reducing fuel consumption and emissions.

Equilibrium Price

Prevailing market price at which you can buy an item.

Substitute Goods

Products or services that can replace or be used in place of another to satisfy the consumer's needs.