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DESIGN AND IMPLEMENTATION OF A COMPUTER BASED FINANCIAL AUDIT SYSTEM FOR A MANUFACTURING ORGANIZATION

ABSTRACT

We live in a dynamic world where nothing stays the same for long periods of time. Decades ago, information storage and retrieval were done manually. It has now been phased out in all aspects of our day-to-day business. Because everything is being computerized, an auditing firm is required to go through this procedure.
In today’s competitive auditing sector, the documentation management system in most audit companies has a demanding task, necessitating the need for a faster, more efficient, and effective processing system. Using Anammco Ltd Enugu as an example, customer files cannot be examined rapidly, and updating, confirming, and other auditing tasks are difficult to complete.
The goal of the project is to computerize the existing data processing system, as well as to identify the various problems that arise from manual and mechanical data processing methods in the auditing of a client’s financial statement of account, and to recommend a first-class solution to these problems, which is to computerize the auditing/processes in an organization.
The thesis was finally completed with the new system’s implementation, programming, text run, and changeover process.

CHAPTER ONE
INTRODUCTION
STATEMENT OF THE PROBLEM

Auditing is an activity or exercise that entails a thorough examination of a set of financial statements, as well as their supporting records and documents, in order to form an objective opinion on the truth and fairness of the views expressed in the financial statement about a business organization’s transaction, which is expressed in the form of an audit report.
Auditing was done manually before computers were introduced. And, as businesses and organizations expanded, it became more difficult and time-consuming to speed up auditing procedures. Files and documents holding information on the firm or organization being audited grew in number and became difficult to keep as they took up space. Auditors were severely harmed as a result of this. This was made possible by the introduction of computers, which are now widely employed in all aspects of human life, including production, manufacturing, banking, purchasing, auditing, and resource management. The increasing usage of computers in the police and private sectors of the global economy is a clear indication of the operations’ efficiency in obtaining outcomes.
However, in recent years, manual auditing methods have been plagued with errors that may be traced back to human errors and flaws.
In this study project, the researcher will focus on using computers to solve these challenges.

 PURPOSE OF STUDY

I’m not suggesting that this work will turn me into a philosopher’s stone, but suffice it to say that this work or study is important to a variety of people in the field of auditing, including businesspeople, firms, organizations, and companies, both private and government-owned. Auditors will profit immeasurably from this from time to time.
Organizations, on the other hand, will know what steps to take to alleviate the challenges connected with manual auditing, and if they are presented with these problems, they will be able to find an appropriate solution, as the case may be.

 AIMS AND OBJECTIVES

To keep auditing abreast of inaccurate records, there must be a demand for the dependability and credibility of information and records that assist capital business operations, enterprises and organizations must design and deploy computerized measures as an alternative to current auditing. The goals and objectives of looking into an alternative to manual auditing activities, as well as inaccurate and unreliable records.
In comparison to manual auditing, this effort will reduce human error in auditing and make auditing more dependable, acceptable, and intelligible.

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