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 .

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
icon
Related questions
Topic Video
Question

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)
Transcribed Image Text: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)
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Instruction Format
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Database System Concepts
Database System Concepts
Computer Science
ISBN:
9780078022159
Author:
Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:
McGraw-Hill Education
Starting Out with Python (4th Edition)
Starting Out with Python (4th Edition)
Computer Science
ISBN:
9780134444321
Author:
Tony Gaddis
Publisher:
PEARSON
Digital Fundamentals (11th Edition)
Digital Fundamentals (11th Edition)
Computer Science
ISBN:
9780132737968
Author:
Thomas L. Floyd
Publisher:
PEARSON
C How to Program (8th Edition)
C How to Program (8th Edition)
Computer Science
ISBN:
9780133976892
Author:
Paul J. Deitel, Harvey Deitel
Publisher:
PEARSON
Database Systems: Design, Implementation, & Manag…
Database Systems: Design, Implementation, & Manag…
Computer Science
ISBN:
9781337627900
Author:
Carlos Coronel, Steven Morris
Publisher:
Cengage Learning
Programmable Logic Controllers
Programmable Logic Controllers
Computer Science
ISBN:
9780073373843
Author:
Frank D. Petruzella
Publisher:
McGraw-Hill Education