AAA – May 2025 – Professional – SC – Q7 – Audit of IT Systems and Data Analytics

Present benefits of COBIT and evaluate audit software for ABC Pharmaceuticals' IT system implementation across outlets.

Question

Messrs ABC Pharmaceuticals Limited, a chain of pharmaceutical outlets, is considering implementing a liberal system with computerization for operations across different towns. They appoint your audit firm for guidance on accounting and IT processes, with a Zoom meeting planned for discussion.

Required:

a. Make a presentation showcasing the benefits of applying COBIT in the client’s business. (7 Marks)

b. Evaluate the use of audit software and the importance of adopting it for business. (8 Marks)

Answer

a. COBIT benefits include: increased reliability of IT operations, efficiency of audit, strong controls, risk mitigation (e.g., hacking, fraud, errors), and compliance, especially for sensitive data in pharmaceuticals. (7 Marks)

b. Audit software types: interrogation programs, interactive software, embedded audit facilities. Importance: tests completeness/accuracy of processing, tests larger data sets, monitors controls, real-time monitoring, fraud detection, remote auditing, data analytics, improved documentation, regulatory compliance. (8 Marks)

Tags: Audit Efficiency, Audit Software, COBIT, Compliance, computerization, Data Analytics, Fraud Detection, IT Governance, IT operations, pharmaceuticals, Risk Mitigation
Level: Level 3

Topic: Audit of IT Systems and Data Analytics
Series: MAY 2025

Uploader: Samuel Duah