pathfinder - The Institute of Chartered Accountants of Nigeria

PATHFINDERany, in depreciation rates on individual plant and equipment and assets onwhich no depreciation has been charged at all. It also includes basic data onindividual fixed assets.c. Uses of Computer Audit Programs in the audit of a company include:i. Selection of representative or randomly chosen transactions or items foraudit tests e.g. items number 30 and every 10 th item thereafter.ii.iii.iv.Scrutiny of files and selection of exceptional items for examination e.g.all wages payments over N1,000 or all stock lines worth more thanN100,000 in total.Comparison of two files and printing out differences e.g. payrolls at twoselected dates and periods.Preparation of exceptional reports e.g. overdue debts.v. Stratification of data with a view to examining only material items e. g.stock lines or debtors.vi.vii.Verifying data such as stock or fixed assets at the interim stage andcomparing the examined file with the year end file so that only changeditems need be examined at the final audit.Comparison of files at succeeding year ends to identify changes in thecomposition of stock.EXAMINERS‟ REPORTThe question is in three parts and its requirements are direct and straight to the point.The candidates‟ attempt at the question was about 75%. Out of this percentage only20% scored pass mark.The major shortcoming is poor understanding of the requirements of the questionespecially in parts (a) and (b). Candidates are advised to improve their studies oncomputer and other IT applications.INTERMEDIATE EXAMINATION - NOVEMBER 201043