a) Different documents related 2 bizness-
1. Bill of lading
2. consignment note
3. invoice proforma
4. material requisition note
6. bin card
7. store ledger
b) Rules & regulations relating to internal control of da CA of England & Wales.
Q2. prepare a chart showing column wise description of the Audit of payments proforma(shown in da pic here):
(plz show at least 7 items of payments.)
Q3. Describe showing in diagram the method of EDP Auditing. Explain in your own language. (min. 200 words)
An EDP audit, is an examination of the controls within an Information technology (IT) infrastructure. The evaluation of obtained evidence determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the organization's goals or objectives. These reviews may be performed in conjunction with a financial statement audit, internal audit, or other form of attestation engagement.
EDP audits are also known as automated data processing (ADP) audits and computer audits. They were formerly called electronic data processing (EDP) audits.
An EDP audit is different from a financial statement audit. While a financial audit's purpose is to evaluate whether an organization is adhering to standard accounting practices, the purposes of an EDP audit are to evaluate the system's internal control design and effectiveness. This includes but is not limited to efficiency and security protocols, development processes, and IT governance or oversight. The goal is to evaluate the organization's ability to protect its information assets and properly dispense information to authorized parties. The EDP audit's agenda may be summarized by the following questions:
* Will the organization's computer systems be available for the business at all times when required? (Availability)
* Will the information in the systems be disclosed only to authorized users?... [continues]
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