galaxy limited owns shares of other companies about 80 percent of which are listed in the stock exchange . It holds about 800 parcels of shares. The computer system maintains the following information on each share parcel . purchaed on It was sold on Name of the investor shares sold by cash Investing cost Profit or loss from sales Income from dividend . For 2 years the above data is kept in the computer . For two years, the above data is kept on the computer.Required:a) How can generalised audit software (GAS) assist in the audit of theseinvestments?b) In order to rely on the GAS results, what procedures would you need tofollow?C) Describe five reports you would have the GAS prepare, including theirname and details, and describe what each report would be used for.IAASUS VivoBookF10INF8F7F6F5F4F3(8)

Name: galaxy limited owns shares of other companies about 80 percent of whic
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Description: galaxy limited owns shares of other companies about 80 percent of which are listed in the stock exchange . It holds about 800 parcels of shares. The computer system maintains the following information on each share parcel . purchaed on It was sold o

Purpose of Generalized Audit Software (GAS):- Generalized Audit Software (GAS) is a tool used by…

Answered: galaxy limited owns shares of other…

Fundamentals of Information Systems

8th Edition

ISBN:9781305082168

Author:Ralph Stair, George Reynolds

Publisher:Ralph Stair, George Reynolds

Chapter6: Information And Decision Support Systems

Section: Chapter Questions

Problem 1WE

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galaxy limited owns shares of other companies about 80 percent of which are listed in the stock exchange . It holds about 800 parcels of shares. The computer system maintains the following information on each share parcel .

purchaed on

It was sold on

Name of the investor

shares sold by cash

Investing cost

Profit or loss from sales

Income from dividend .

For 2 years the above data is kept in the computer .

For two years, the above data is kept on the computer.
Required:
a) How can generalised audit software (GAS) assist in the audit of these
investments?
b) In order to rely on the GAS results, what procedures would you need to
follow?
C) Describe five reports you would have the GAS prepare, including their
name and details, and describe what each report would be used for.
IA
ASUS VivoBook
F10
IN
F8
F7
F6
F5
F4
F3
(8)

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