Enviro Finance Group: a manual and/or computerised audit practice set

Chapter One: Overview of the audit process

Objective of a financial report audit

Financial report assertions

Planning

Audit procedures and evidence

Risk assessment

Levels of control in computerised systems

Testing controls in client computer programs

Using CAATs to aid the undertaking of substantive tests

Chapter Two: ACL tutorial

Introduction

ACL-a brief overview

Tutorial exercise

Setting up a new document and data definition

Selected tools to assist the auditor in conducting audit procedures

Suggested audit objectives and tests using ACL

Chapter Three: Case study - Enviro Finance Group

Appendix A: Toolbar Icons

Appendix B: Tutorial Exercises - Elegance R Us

Appendix C: Case Study Enviro Finance Group

This comprehensive audit practice set guides students through the audit process in both manual and computerisedcontexts.Chapter 1 summarises the audit process through planning and risk; tests of control and detail; and the completion and communication phases. It explains the advantages and procedures for both manual and computerised audit procedures.Chapter 2 provides a detailed step-by-step tutorial for undertaking Computer Assisted Audit Techniques (CAATs)using ACL software.Chapter 3 is a case study covering the Enviro Finance Group, providing students with the opportunity to make practical use of their auditing knowledge with real data using both a manual evaluation and applying CAATs using ACL.Using a practice set combining both manual and computer-assisted procedures allows students to see the way both areapplied, giving them valuable practical experience and enhanced understanding of the audit process.