Part 1 -2000 Words
Overview of main features
What is it about
Why has it been developed
Three specific examples of controls in a computerised environment.Break it down with element with COSO
200 words for each,600 words in total.
Impact of cybercrime on a business
Money financial loses
Customer details/financial details
600 words in total
Part2 IDEA Software - 1000 words
Outline-What does the software do?
What - Sorts data
How - Manipulates data to order it to make it easier to analyse.
Why - Easier to analyse
Quicker to discover errors(fraud)
Saves time-saves money
Finds records that have identical elements.
Knows the auditor to investigate the error.
Auditing in a Corporate Environment with COSO Model of Internal Control & IDEA Software
Client First Name & Surname
Conventional audit methods are failing to be greatly effective in unmasking the increased number of frauds despite enlarged consideration to internal controls and risk assessment. Financial forensics has acknowledged the necessity for pre-programmed mechanics to fraud analysis — though, until now, investigations have not scrutinized the advantages of forensic auditing as a means to identify and prevent corporate fraud. This paper intends to show how such a study is possible. The paper pens with an emphasis on the COSO Model of Internal Control which is gaining universal approval by accounting professionals. The second part highlights the efficiency of IDEA audit software as a tool to support the audit task, meet the regulatory objectives of the management, and to contest fraud. An additional sub-section has been dedicated to the cybercrime related issues. Thus, in short, this paper intends to discuss the application and effects of both COSO Model and IDEA audit software.
Keywords: Audit, Corporate Environment, COSO Model, Internal Control, IDEA Software
Auditing in a Corporate Environment with
COSO Model of Internal Control & IDEA Software
The year 1985 was the formation year of COSO, The Committee o...