Impact of Automated Financial Accounting System on Audit Processes of Selected Companies in Nigeria

AbdulGaffar Badmus Olayiwola, Ahmed Modu Kumshe, Ahmed Bawa Bello


The study was carried out to assess the impact of automating financial accounting system on audit processes of selected companies in Nigeria. The objectives were to assess the relationship between an automated data capturing system and audit planning and also identify the influence of an automated data capturing system on gathering of audit evidence.  Four companies, made up of two companies each from manufacturing and telecommunication sectors were selected using purposive sampling technique. Four audit firms were also selected purposively being auditors of these companies. The population of the study was the entire staff of these companies and staff of the audit firms. The study used primary source of data. Product-Moment Coefficient Correlation and Simple Percentage were used for data presentation and analysis. The result revealed a weak positive relationship between automated data capturing system and the duo of audit planning and audit evidence. The study among others recommended that audit firms should improve on their staff competency through training and retraining, workshops and seminars so that auditors can deal with this type of activities with high degree of professionalism and competency. It also recommended the need for constant enlightenment of management of various organizations about risks associated with Automated Accounting System and how to deal with it during audit processes.

Key words: Automated Accounting System, Audit Processes, Automated Data Capturing, Audit Evidence and Audit Planning

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