The final examination is an essay question that requires research to answer. Your answer should be limited to 1 page (excluding bibliography, with the limit being very strict), single-spaced, in Microsoft Word, with standard fonts and margins. Do not include a cover page. There is no minimum or maximum number of citations or bibliography entries, but be sure to avoid any risk of plagiarism.
You will need to use online sources such as Google, and possibly other resources, such as the FAU online electronic library collection (e.g., Proquest) and, possibly, the ISACA or ACFE or AICPA web sites, to research your answer.
You have used ACL – a powerful computer-aided audit tool -significantly this semester.
You have gained first-hand knowledge of its characteristics and its functionalities.
Using the 5 bullet points below as a guide, write a brief essay regarding computer-aided audit tools (e.g., ACL or Idea, but not FTK, which is a computer forensics tool). You must address all five points. The response must be in proper essay format (e.g., do not use numbers//bullets/or lists). Use the Internet and search engines for your research:
- What in your opinion are the most critical characteristics or functionalities of computer-aided audit tools and why? (Choose at least one characteristic or functionality; choose no more than three. One is sufficient.)
- Do computer-aided audit tools (e.g., Idea and ACL) have the same basic characteristics or functionalities?
- Do spreadsheet programs (e.g., Excel) have these characteristics or functionalities?
- What does the literature indicate the most critical these characteristics or functionalities of computer-aided audit tools are?
- Suppose your superior or your client was weighing using only a spreadsheet program versus using a spreadsheet program and a computer-aided audit tool in performing an audit for fraud. What would you communicate to them in regard to the benefit – the salient characteristics or functionalities discussed above — of computer-aided audit tools?