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Accounting Systems and Assurance - Assignment Example

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"Accounting Systems and Assurance" paper contains a brief statement of the audit hooks system for the payroll department and proposed implementation of the XBRL Accounting Model in the organization. XBRL is a derivative of XML or extended memory language…
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Accounting Systems and Assurance
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Download file to see previous pages The replacement of the existing audit system is essential for maintaining data storage security with optimum accuracy. Thus it is essential to install a new audit hooks system by replacing the existing one.

Auditing tools should be free from all types of defaults as it is essential for ensuring the efficiency of the audit process. In the computerized payroll system, the deployment of audit hooks will facilitate easy and timely identification of the corruptive actions on the part of the payroll clerks. The access of the electronic pay role records by the payroll clerks after the data entry of the employee timesheets should be notified on time by the audit hooks system. In the computerized payroll system, audit hooks are essential for ensuring accuracy and security at the optimum level.

Here the Pay Roll Manager, Mr. Greg Grunter was informed that in the payroll department, a series of audit hooks should be deployed in order to ensure the security of the electronically stored data. In the payroll department of the company, the electronic pay role system should be modified with new audit hooks. For this purpose, the NEW LSM audit hooks should be used for internal audit purposes. A generic Audit interface should help to ensure the security of the data storage. The LSM Audit hooks facilitate to get a real-time notification. Auditing through the computer reduces the time and cost requirements for the audit purpose. Continuous auditing is possible on a real-time basis. Through the real-time notification, corrective actions can be taken in time.

Audit hooks are audit routine programs that flag suspicious transactions on a real-time basis. Embedded program audit hooks are adaptable for this purpose. Through the embedded program audit hooks low complexity can be ensured with the computerized audit program. The flagging of selected transactions that have to be examined is possible through this system. ...Download file to see next pagesRead More
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