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It on Auditing

In: Computers and Technology

Submitted By seith
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REFLECTION PAPER ON “THE IMPACT OF EMERGING INFORMATION TECHNOLOGY ON AUDITING”

In our modern world today, everything is possible... Everything is faster. But based on this fact, do we really know the influence of evolving “Information Technology” on our society specifically in the dynamics of businesses nowadays? To respond with this, IT has affected many sectors or aspects especially auditing. Audit is an evaluation of a person, organization, system, process, enterprise, project or product to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, is in accordance with the applicable financial reporting framework. The use of computers in the process of auditing is what we called “Accounting Information System” which is wildly by the auditors today.
In a business context, information technology (IT) is defined as "the study, design, development, application, implementation, support or management of computer-based information systems". The prompt growth in information technology (IT) competencies and the longing of businesses of all sizes to obtain competitive advantage have led to a dramatic increase in the use of IT systems to make, process, store and communicate information. Today, employees at all levels use IT systems in their daily activities. Electronic records have replaced traditional paper documents. In fact, there are few companies that don’t rely on IT to at least some extent to achieve their financial reporting, operating and compliance objectives. In connection to this, Electronic Data Processing (EDP) and Electronic Data Interchange (EDI) have been mentioned in the journal in which it would make recording of transactions easier and simpler. But in my own point of view and observation, accounting information in electronic form is hard to assess since physically they can’t be traced,...

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