IEEE International Workshop on Intelligent Data Acquisition and Advanced Computing Systems: Technology and Applications 21-23 September 2009, Rende (Cosenza), Italy Issues Regarding Implementation of Computer Information Technologies into Auditing Practices Iryna Golyash 1 , Igor Golyash 2 1 Ternopil National Economc University, 11 Lvivska Street, 46020, Ternopil, comein88@yahoo.com 2 Euromet Ltd., 44 Brodivska Street, 46001, Ternopil, euromett@yahoo.com Abstract - Use of computer information technologies in audit is caused by need to increase working performance of auditors and to improve quality of an audit procedure itself. Carrying out an audit using computer information technologies has some peculiarities that concern different stages of an audit procedure. In the publication hereof main issues concerning implementation of computer information technologies into auditing practices are determined, as well as there are pointed out ways to solve those issues. Keywords - audit, International Standard(s) on Auditing (ISA), economic security, data protection, computer information technologies. I. INTRODUCTION The purpose of maintaining accounting and financial statements is to provide users with complete, faith, and unbiased information about financial situation, performance, and cash flows of economic entity in order to make decisions. Correct conclusions about enterprise activity can be drawn only upon availability of the reliable financial statements, which requires carrying-out a high- quality and objective audit. Present day auditing is tightly connected with information technologies. Automation systems allow an auditor to use powerful methods of contemporary information technologies while analyzing accounting data of an economic entity, whereas the enterprise can practically implement recommendations, which are provided by auditing companies. Nowadays issues regarding implementation of computer information technologies into an audit are considered by the specialists of several knowledge areas, such as information systems specialists, accountants, managers, auditors. Those researches become complicated since it is necessary for the researchers to be competent both in audit and modern information systems and technologies. Therefore very few scientists and experts, e.g. S.V. Ivakhnenkov, P.V. Ivanyuta, are engaged in studying issues of implementing computer information technologies into audit practices. Among issues which are considered by scientists and experts the following can be mentioned: 1. Impossibility of complete formalization of an audit process; 2. Variety of branch specialization of auditing companies clients; 3. Specific character of field check execution; 4. Application of different software by economic entities; 5. Low probative value of electronic working papers and final documents of the auditor; 6. Possibility of information loss or damage during power supply disconnection; 7. Infection of audit information system by computer viruses; 8. Information protection from unauthorized access etc. For the moment the hereinabove problems have not been solved yet, whereas implementation of information technologies into auditing practices only begins to develop. Some issues and ways of solving them are considered in our research. The aim of this paper was determined by the necessity of extending theoretical, organizational, and methodical elaborations in solving problems of implementing computer information technologies into auditing practices, which can increase working performance of auditors and improve quality of the auditing procedure. II. SPECIFICS OF CARRYING OUT AN AUDIT USING COMPUTER INFORMATION TECHNOLOGIES Under the conditions of economic reforms the sense of audit is changed and its organizational and methodical aspects are being significantly corrected. The quality criterion while conducting an audit today is performance by the auditors of International Standards on Auditing requirements. However, strict observance of these norms is concerned with increase in labour costs of auditors, necessity of acquisition of additional information, documentation of the verification process, and execution of complex calculations. All the abovementioned requires the optimization of information processing, improvement of information display forms by using the computer information technologies. Let’s consider requirements, which are provided by ISA, that concern carrying out an audit using computer information technologies. Namely, on the stage of drawing an audit schedule, according to ISA “Planning”, there has to be accounted an automation level of processing accounting data of an economic entity, presence and specifics of data, soft, and