Your CA firm has been allotted with Information Systems Audit of one of the reputed Commercial Bank of Nepal. How would you assess the reliability of internal control system in computerized information system?
For evaluating the reliability of internal control system in CIS, the auditor would consider the followings:
That authorized, correct and complete data is made available for processing.
That it provides for timely detection and corrections of errors.
That in case of interruption due to mechanical, power or processing failures, the system restarts without distorting the completion of entries and records.
That it ensures the accuracy and completeness of output.
That it provides security to application software & data files against fraud etc.
That it prevents unauthorized amendments to programs.