Question

- (1) what aspects of their clients' accounting information systems must be understood by auditing professionals

- (2) how must auditing professionals use their own accounting firm's (employer's) information systems to perform their audit work.

Answer 1

Answer:

Accounting information system:

The Accounting information system is a framework which is utilized for collecting examining and grouping accounting data to be utilized for decision making.

Dominant part of the staeholders are keen on this data that gives them an understanding into the working of the organization.

1.what aspects of their clients' accounting information systems must be understood by auditing professionals?

• Auditors are commonly proficient who are given the task of having a keep an eye on the organization's transaction and records to guarantee that they give valid and reasonable perspective on the working of the enterprise.
• The auditors ought to by and large have an information on the transaction of the undertaking and this is the purpose behind why the auditor ought to have a comprehension of the customer's Accounting information system.
• This will assist them with continuing with their audit task easily and bother free
• This will assist the auditor with deciding and given an opinion on whether the internal controls are set up and productive or effective.

2. how must auditing professionals use their own accounting firm's (employer's) information systems to perform their audit work?

They can utilize their firm data or information in the event that where the customer and his firm share same line of business.

The bookkeeping or accounting and internal controls practiced by him in his firm will empower him to know the audit technique that he needs to practice in auditing such firm.