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Kanter, H. A. (2001). Systems auditing in a paperless environment. Ohio CPA Journal, 60(1), 43-43.
Technology is playing a significant role in how the auditing process is being carried out today. This article discusses how technology has impacted system auditing and audit functions. According to the author, auditors have been slow to adopt technology compared to their clients. Due to such changes in system auditing, the paper trail is disappearing. The conventional audit trail involved the creation of an audit trail by accounting personnel to demonstrate written a proof of reviews and verification of transactions. The manual accounting system is a paper system is now a compliment system in the auditing process.
Ultimately, the paperless system comes with a more holistic understanding of a client’s processes hence enhancing each of the key audit phases including tests of details, tests of controls and scoping and assessing risks. Looking at the entire process as well as its related controls, it is possible to trace the sources of process issues. The paperless process allows a focus on what has gone wrong as it enables auditors to isolate transactions that have diverse risk profiles and adapt their approach to be reactive to the various levels of risk. Evidently, technology has caused a considerable shift in auditing process from analyzing larger volumes of audit-relevant data to the inspection of evidence, allowing targeted analysis of risk areas and possible inconsistencies.
Nanney R. & Raphael J. (2016). Audit innovations bring value to private companies. Accounting Today, 15
This article discusses the role that audit innovations have played in bringing value to private firms. Audit innovations have allowed companies to have access to more data. This has allowed early identification of operational risks and effective financial reporting. According to the authors, innovations provide dramatic benefits even to those enterprises without adequate infrastructure and resources to generate business insights. With better insights at their disposal, private companies are better positioned to deliver a more effective quality audit and ask more challenging questions. There are various breakthroughs including data analytics, workflow automation, artificial intelligence that deliver powerful insights today than before. For example, auditors can apply robust analysis and testing to higher-risk manual transactions which can help identify the presence of unusually large percentage of credit transactions that could have been processed inappropriately. Such could indicate an increased risk of misstatement or fraud. The access to this information provides management with actionable insights and a better understanding of how systems are operating. The results inform the decision of whether to reconsider the configuration or design of their internal controls.
Kamens M. (2006) Sox Education. How to enter the field. Retrieved from www.Networkworld.com
The author of this article discusses the necessities of entering into the field of security auditor. According to the article, individuals require more than the basic understanding of IT Knowledge. Education in It auditing combined with industry and financial understanding is necessary. The knowledge and certifications are necessary because individuals are involved in identifying issues before they impact the bottom line, in-depth analysis of processes and controls as well as analyzing transactions that can all important in improving internal control systems, financial reporting and detecting risk. The future of IT audit will provide more value. Organizations want more relevant insights from all phases of their IT systems, ones that they haven’t had before about their business and industry. The insight is essential in making operational or strategic decisions. But it is not just what IT auditing can bring to organizations. IT auditing also brings about the opportunity to enhance the overall audit.

Carolyn Morgan is the author of this paper. A senior editor at Melda Research in superior writing services. if you need a similar paper you can place your order for a custom research paper from best custom writing services.

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