DESIGN AND IMPLEMENTATION OF A COMPUTER BASED FINANCIAL AUDIT SYSTEM FOR A MANUFACTURING ORGANIZATION. A RESEARCH PROJECT MATERIAL ON COMPUTER SCIENCE
We are in a dynamic world where nothing remains the same for too long. Information storage and retrieval was done manually decades ago. Today, it has been phased out gradually in all areas of our day-by-day activities. Everything is undergoing computerization, so there is need for auditing firm to undergo this process.
The documentation management system in most audit firms no doubt, has a difficult task in today’s competitive auditing industry hence there is the need for a fast, more efficient and effective processing system.
Taking Anammco Ltd Enugu as a case study, client’s files cannot be assessed quickly, and many difficulties are experienced in the updating, verifying and other auditing jobs.
The work is geared towards the computerization of the existing system of processing data as well as identifying the various problems which are encountered in the manual and mechanical methods of data processing in the auditing of a clients financial statement of account and to recommend a first class solution to these problems which is to computerize the auditing/processes in an organization.
Finally, the thesis was concluded with the implementation, programming, text run and changeover process of the new system.
STATEMENT OF THE PROBLEM
Auditing is an activity or exercise that implies an indept examination of a set of financial statements and their underlying records and documents, so as to form an objective opinion which is expressed in the form of an audit report on the truth and fairness of view expressed in the financial statement about the transaction of a business organization.
Prior to the introduction of computers, auditing was done manually. And due to the increasing activity of expansion in business and organization, it become increasingly difficult and cumbersome to accelerate auditing processing files and documents containing information about the business or organization being audited increased in a number and also was hard to keep as they occupy space. Auditors suffered tremendously because of this.