A. E. An
analysis of an organization’s computer and information systems in order to evaluate the integrity of its production systems
as well as potential security cracks.
What is audit EDP?
Electronic Data Processing
(EDP) refers to the input, processing and output of information. EDP is often called Information Services or Systems (IS) or Management Information Services (MIS), according to Tech Target. The information processed is used and evaluated during an audit.
What is the meaning of EDP?
Electronic Data Processing
(EDP) describes the processing of data by a computer in an IT environment.
What is meant by auditing in an EDP environment?
The auditing procedures in an Electronic data processing environment includes
audit planning, risk assessment, audit testing
and is achievable by auditing with the computer, auditing through the computer and auditing around the computer.
What are the main type of control under EDP audit?
To assure proper EDP function, the auditor should evaluate three major areas of internal control:
organizational, administrative, and procedural
.
What are the 3 types of audits?
There are three main types of audits:
external audits, internal audits, and Internal Revenue Service (IRS) audits
. External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor’s opinion which is included in the audit report.
What type of auditors are there?
- Internal audit. Internal audits take place within your business. …
- External audit. An external audit is conducted by a third party, such as an accountant, the IRS, or a tax agency. …
- IRS tax audit. …
- Financial audit. …
- Operational audit. …
- Compliance audit. …
- Information system audit. …
- Payroll audit.
What is the role of EDP?
The overall objectives of EDP are mainly to
help in the rapid growth of the economy by supplying skilled entrepreneurs
. This programme primarily aims at providing self-employment to the young generation. Stimulatory Role: It aims at influencing people in large number to be the entrepreneur.
What are the elements of EDP?
In the software section, accounting software, data entry, scheduling software, analytics, and software are the elements of electronic data processing. In the procedure section,
sorting, analysis, reporting, conversion, data collection, aggregation
be the elements of EDP.
What are the examples of EDP?
- Desktop, laptop and tablet computers.
- Smart phones.
- Servers, hard drives and monitors.
- Network-connected printers and copiers.
- 911/dispatch systems.
- Electronic voting equipment, 800 MHz/ARMER equipment.
- GPS and GIS systems.
- Survey equipment.
What are the different types of EDP audit?
- online processing.
- real time processing.
- distributed processing.
- Time sharing.
- Batch processing.
- multiprocessing.
- multitasking.
- interactive processing.
What are the objectives of auditing?
The objective of an audit is
to express an opinion on financial statements
. The auditor has to verify the financial statements and books of accounts to certify the truth and fairness of the financial position and operating results of the business.
What are the principles of audit?
The basic principles of auditing are
confidentiality, integrity, objectivity, and independence, skills and competence
, work performed by others, documentation, planning, audit evidence, accounting system and internal control, and audit reporting.
What are the 3 types of control?
Three basic types of control systems are available to executives:
(1) output control, (2) behavioural control, and (3) clan control
. Different organizations emphasize different types of control, but most organizations use a mix of all three types.
What are 3 types of risk controls?
Risk control methods include
avoidance, loss prevention, loss reduction, separation, duplication, and diversification
.
What are the 5 internal controls?
The five components of the internal control framework are
control environment, risk assessment, control activities, information and communication, and monitoring
.
