The following data items are maintained in a company's database for each fixed asset item that it owns:

fixed asset number, fixed asset description, fixed asset classification, location, responsible manager, maintenance schedule, purchase price, purchase date, vendor information, depreciation method, current depreciated value, salvage value, depreciation amount, taxable value, insured value, insurance vendor

Required: List the audit objectives that you could accomplish by using generalized audit software to access and manipulate these data items. Briefly explain how you would use generalized audit software to accomplish these objectives. Hint: You might wish to consult a standard auditing textbook to find typical audit objectives and a typical audit program (set of audit procedures) for fixed assets. You should then try to work out how generalized audit software could be used to assist you in the execution of this program.