COMET: An Application of Model-Based Reasoning to Accounting Systems
Robert Nado, Melanie Chams, Jeff Delisio, Walter C. Hamscher · RePEc: Research Papers in Economics · 1996
An important problem faced by auditors is gauging how much reliance can be placed on the accounting systems that process millions of transactions to produce the numbers summarized in a company’s financial statements. Accounting systems contain internal controls, procedures designed to detect and correct errors and irregularities that may occur in the processing of transactions. In a complex accounting system, it can be an extremely difficult task for the auditor to anticipate the possible errors that can occur and to evaluate the effectiveness of the controls at detecting them. An accurate analysis must take into account the unique features of each company’s business processes. To cope with this complexity and