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2019年ACCA考试《商务分析(专业阶段)》每日一练(3.21)
Tirrol Co provides repair services to motor vehicles from 25 different locations. All inventory, sales and purchasing systems are computerised, with each location maintaining its own computer system. The software in each location is the same because the programs were written specifically for Tirrol Co by a reputable software house. Data from each location is amalgamated on a monthly basis at Tirrol Co‘s head office to produce management and financial accounts.
You are currently planning your audit approach for Tirrol Co. One option being considered is to re-write Cal & Co‘s audit software to interrogate the computerised inventory systems in each location of Tirrol Co (except for head office) as part of inventory valuation testing. However, you have also been informed that any computer testing will have to be on a live basis and you are aware that July is a major holiday period for your audit firm.
Required:
1.Explain the benefits of using audit software in the audit of Tirrol Co;
2. Explain the problems that may be encountered in the audit of Tirrol Co and for each problem, explain how that problem could be overcome.
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