Example 3- Audit procedures to address audit risks related to IPE from a transaction process Complete the following table, indicating the audit procedure that would be performed to address the identified risk : The IT application is not processing data correctly (incomplete or inaccurate). Information about ABC's shipments is input manually into the IT application by the clerk. The risk is that the s clerk the shipped t procedure to address the risk: 2: The IT application is not collecting data covrectly for output (incomplete or inaccurate). auditor obtains from the accounts receivable clerk an aged customer list of amounts. The risks include that the data extracted includes paid invoices, s not include all unpaid invoices (e.g., excludes the unpaid invoices for one line business) or includes all unpaid invoices but excludes unmatched credit notes t procedure to address the risk: 3: The IT application is not computing or categorizing data correctly for output (inaccurate). auditor obtains from the accounts receivable clerk an aged customer list of unpaid amounts ncludes that the invoices may be aged diflerently than expected or the aging columns may not totaled accurately (e.g. the aging column content may be different than expected because the expects aging of the invoice date but the IT application ages according to the due date, or the expects the total to be the sum of the numbers in the column but the IT application obtains the number from a summary data table rather than creating the sum of the details displayed). t procedure to address the risk: 4 The output from the IT application into the EUC tool is modified or lost in the transfer to the (incomplote or inaccurato) auditor obtains from the accounts receivable clerk an aged customer list of unpaid amounts that exported from the accounts payable application into Excel. The risk is that the data did not correctly, including such issues as larger numbers being truncated when exported or lines of being dropped in the transfer t procedure to address the risk: 5 The output from the IT application into the EUC tool or the output from the EUC tool is (data is missing) or inaccurate (data has been added, changed, computed or categorized auditor obtains from the accounts receivable clerk an aged customer list of unpaid amounts that exported from the accounts payable application into Excel. The risk is that fictitious unpaid s are inserted into the spreadsheet or formulas intended to calculate a provision for old amounts are incorrect. t procedure to address the risk