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.

---

Definitions:

Control Limits

Boundaries in statistical process control that indicate the thresholds for when a process is in or out of control.

Process Capability Index

A statistical measure that quantifies how well a process can produce output within given specification limits.

Specification Limit

Predetermined bounds within which a product or process’s performance must fall to be considered acceptable, often used in quality control.

Standard Deviation

A statistic that measures the dispersion or spread of a set of numbers.