Evaluating internal controls in a computerised works environment – a risk to audit professionals and a challenge to accountancy training providers

Abstract

Information and Computer technology (ICT) has become integral part to any modern accounting information systems. ICT, however, is a high risk discipline due to high level of vulnerabilities and threats.  A key emphasis ofauditing procedures is identifying risks, fraud and errors by making inquiries of and testing Internal controls within the entity in order to place some reliance on internal reports and associated management assertions. Auditors’ responsibility in identifying fraud has now been acknowledged by regulatory standards and the law. It has become critical that auditors are fully aware of the impact of ICT issues on the audit of a client’s financial statements in howICT is used by a client to gather process and report financial information.It is, therefore, recommended that accountancy training institutions kept pace with time and inculcated into their training more skills in ICT relevant to their field to improve on the quality of professionals. This article makes use of extensive review of literature with some empirical knowledge to aid the analysis of the available literature.

Keywords: Auditors, internal control, challenges, accounting, information technology, risks, skills, training.