The Impact of Information Technology on Organisations’ Audit Processes

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The impact of information technology on Organisations’ audit processes

Dickson T.C. Soko (2012) Msc. Business Information Systems dicksonsoko@gmail.com

The impact of information technology on Organisations’ audit processes, 2012

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Table of Contents
1.0 ABSTRACT..................................................................................................................................... 2 2.0 INTRODUCTION ........................................................................................................................... 2 3.0 Roles of auditors ............................................................................................................................ 2 4.0 Changing Roles of the auditors ................................................................................................... 2 5.0 Benefits of IT in Auditing............................................................................................................... 3 6.0 Challenges to Adoption of ICT in Auditing ................................................................................. 4 6.1.0 Cost ...................................................................................................................................... 4 6.2.0 Poor Information Technology infrastructure ................................................................... 4 6.3.0 ICT literacy level ................................................................................................................. 5 6.4.0 Lack of financing option..................................................................................................... 5 7.0 How to Promote Use of Information Technology in Auditing Profession .............................. 5 8.0 Conclusion ...................................................................................................................................... 6

The impact of information technology on Organisations’ audit processes, 2012

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1.0 ABSTRACT Computers and Electronic business have been embraced by many entrepreneurs, administrators, investors, and organisation observers lately. So many organizations nowadays integrate Internet information technologies to redesign their business processes in ways that strengthens their competitive advantages in the business environment (Phan, 2002). It is believed that companies that do not use IT in conducting their business activities are less competitive in the business environment. This being the case, auditing processes in an organisation should also take pace with technological development to make sure that transparency and accountability remains intact. This report tries to articulate issues to do with how information technologies have shaped the way audit profession does operate its business activities to conform to changing nature of organisational activities as a result of the growth of information technologies. 2.0 INTRODUCTION Auditing is one of the activities that are carried out in an organisation be it private of public for the purposes of providing the organisations with independent assurance that internal controls are in place and functioning effectively (David, Schiller and Wheeller, 2007). Auditing provides a mechanism whereby issues that affect or might affect the organisation are brought to right and therefore receive required attention and resources needed to fix them( (David, Schiller and Wheeller, 2007). The use of computers and networks as auditing tools therefore are of great significance as they brings efficiency in the auditing process and also provides improved transparency and governance of the organization. This report has been divided into the following categories: roles of auditors and the way their roles are changing, benefits of IT in auditing challenges in adopting Information Technologies in auditing, and ways to promote auditing. 3.0 Roles of auditors Auditors have got a lot to play in as far as...
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