Fatin Najwa - Tugasan Khusus

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2.0 AUDIT EXPRESS 2.1 OVERVIEW One of the popular system’s developer in audit field is AXP Solutions Sdn. Bhd.. The main objective of AXP Solutions in build the system is to help the business in continue the success by providing necessary tools so that they can serve their customers and business requirements, and at the same time it can increase the productivity and save tremendous cost. AXP Solutions is very committed to ensure each business successfulness and satisfaction with their products, so that they build a quality products and deliver cost-effective, result oriented service and support based on the unique business needs. Software that designed by them especially for audit practitioners are called as Audit Express (AE). It is integrated software programs that will make the works easier and reduce time taken to complete it. By using AE, it can improve both in speed and quality of undertaking audit engagement by assist the business to address the major elements of a good system of quality control as stated by the quality control standards. AE can capture and analyses client financial data, transforming it into a ready platform so that the business can concentrate on the real audit. It will link the audit working paper to the final financial statement report. The major interface of this system divided into three modules which are Professional Audit Module, Client Management Module and Management Information System Module. All of these modules will guide the business through the major processes in an audit engagement. Professional Audit Module will capture and analyses client financial data and transform it into a ready platform so that auditors can concentrate on the real audit. This module will smartly link audit working papers to Annual Report, hence improve both the speed and accuracy of audit process. For Client Management Module, it helps audit practitioners to manage all their client information and correspondence, make sure all of the information are the latest and always up-to-date. This module comprises the Letter Generating Centre and Client Information Centre. Management Information System Module act as reporting tools that allows audit practitioners to make informed business decisions. The practitioners will get real-time information on performance measurements to increase their competitiveness. Each company need a great and valuable information system to expand the business and be known in the world. Page | 3
Figure 1 Audit Express's Modules As we can see in Figure 1, Professional Audit Module consists of Database Centre, Audit Working Paper and Report Editor and Audit Kits and Tuning Centre. For Database Centre, it stores most of client’s information such as general information, bank’s information and also firm’s information. For Audit Working Paper and Report Editor, it contains work paper for all items related to the Balance Sheet and Profit and Loss. This part is the main part to perform the auditing works. Not only that, it also has a special link to connect all the information to the final financial statement. Last part for this module is Audit Kits and Tuning Centre. In this part, it contains the setting to develop preliminary analytical review which works to calculate materiality level and related ratio. As mention earlier, Client Management Module consists of Letter Generating Centre and Client Information Centre. In Letter Generating Centre, it has all various template of letters and confirmations that need to be submitted to the client after we as audit practitioners complete the audit. All the information and structure to be presented just need to be amended based on the situation faced by the company. This part is really a great help in reducing administrative works. Just a click, all the letters can be generating. For Client Information Centre, it helps to store all information that need to be presented in the report. There is lot of reports that can be use in enhancing the relationship between the firm and client. Management Information System Module only have one part. It functions to keep tracks of job progress and capture time cost effectively so that the firms could not lose control on any engagement that been build. Many reports can be generating for management and decision making purpose such as budgetary control, profitability analysis and engagement monitoring. All the information provided is accurate and always up-to-date. Page | 4
Page 1 and 2: INTERNSHIP SPECIAL ASSIGNMENT ACADE
Page 3: 1.0 INTRODUCTION Software is a must
Page 7 and 8: The first problem will occur again

Fatin Najwa - Tugasan Khusus

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