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An audit team is currently engaged in planning the audit of the financial statements of E Limited as at 30 June 2011. This was the first accounting period during which all the transactions were processed in a computerised system. As team leader you have been requested to brief the audit team on the following issues:
(a) Describe how a computerised system differs from a manual one.
(b) Describe what is meant by:
(i) Application controls
(ii) General controls
Suppose soyola cooking oil company takes over ZamGold cooking oil for an amount in excess of the value $500,000. A) What intangible assert will Soya create in its books which the a
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