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Describe what is meant by generalized audit software. Would auditors even consider using Word or Excel?

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Generalized audit software is a software program that an auditor, company, or auditing firm buys directly off the shelf in the manner that any other software package would be purchased. The generalized audit software is a program that is designed to read computer files, and process and write data to files. The generalized audit software works in such ...

Solution Summary

The solution discusses what is meant by generalized audit software, and if auditors would consider using Word or Excel. References are also provided.

This solution is written based on 25+ years of professional experience as an accountant and an auditor.