Archive of Journal - Financing

Financing – scientific journal for economy

ISSUE 2019, No. 2, Article 2, Year of publication: 10, June, 2019
Specificity of the financial statements audit process in the information technology environment


Kristina Mijić, PhD*

*PhD Associate Professor, University in Novi Sad, Faculty of Economics Subotica, Department of Finance and Accountancy



The paper provides an overview of the literature on the fi nancial statements audit process and information technologies that can be implemented in the audit process in order to improve the performance of the audit process. Based on the literature review through the discussion, two key specifi cs of the implementation of the information technologies into the audit process have been identifi ed. First of all, there is a change in the way in which audit activities are carried out, because audit activities are realized based on the using information technologies. These provides the changes in the volume and reliability of the  collected audit evidences, as well as reducing the time of audit process. Furthermore, the application of information technologies leads to the expansion of the audit activities to the segment of testing internal control of the accounting information system.

Keywords: audit of financial statements, audit software, audit techniques

DOI: 10.7251/FIN1902021M

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