IIARD International Institute of Academic Research and Development

IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH (IJBFR )

E-ISSN 2695-1886
P-ISSN 2672-4979
VOL. 5 NO. 1 2019

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Challenges of Computer Audits in Nigeria

Joseph U. B. Azubike

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Abstract

Audit of computerized accounting systems has been seen as a “no go area” for some chartered accountants owing partly to the fact that they do not possess the requisite technical information technology know-how to face the challenges of such audits and for the fear of the unknown having been used to the usual sampling and ticking of vouchers found in the manual system. Using the literature review methodology, the paper observed that in the era of globalization and ICT, what used to be known as a loss of “audit trail” has been identified to have been replaced by greater audit risks to the effect that companies will in future have their records, including accounting records, kept by service companies and data would not only be interfered with but could be interchanged via the internet. The paper discussed this challenge to the auditor among a host of other challenges and proffered what it considered as solutions to the problems. The paper recommends Computer Audits to organizations.

keywords:

Computer Audits, Fraud, Audit Trail, Computer Viruses

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