Accounting · Auditing in Computerized Environment
Consider the following statements regarding internal auditing in a Core Banking System (CBS) environment: Statement I: 'Auditing through the computer' involves using Computer Assisted Audit Techniques (CAATs) to run test data through the system to evaluate application controls. Statement II: In a CBS environment, the 'Audit Trail' is a manual register maintained by the branch manager to record all significant system entries. Statement III: The shift to computerized auditing allows for 'Continuous Auditing,' where systems automatically flag high-risk transactions in real-time based on predefined rules. Which of the statements above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only I and III✓
- 3Only I and II
- 4Only I
Correct answer
Only I and III
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