I. Ernst & Young (EY) is a global leader in assurance, tax, transaction and advisory services. Worldwide, 130,000 people are united by shared values and an unwavering commitment to quality. It makes a difference by helping our people, our clients and our wider communities achieve their potential.
Ernst & Young is the one of the largest company in the world and one of the Big Four auditors along with Deloitte, KPMG and PricewaterhouseCoopers (PwC).
I am going to focus on Ernst & Young Company, Kazakhstan, in Almaty city.
II. Ernst & Young cover many industries like automotive, consumer products, financial services, government and private sector, life sciences and etc.
I am going to research about Oil and Gas industry and Audit department. So basically in Audit department employees perform audit activities and consulting services to the clients around the world.
III. IT is the common abbreviation for Information Technology, meaning the set of tools used to create, send, store, and otherwise manipulate information. While in a broad sense this could include such things as filing cabinets, post-it notes, calculators, microphones, etc. When we say IT, we generally mean electronic, computer-based technology.
For our context at EY, this includes personal computers, servers, local networks, wide area networks, plus all the applications and other software, which makes use of this hardware. It also includes our office telephone systems and voicemail. In most of EY offices, this is especially true, as our telephones and computers are all part of the same network, relying on the same infrastructure (so-called IP telephony).
Ernst and Young in Kazakhstan, Almaty city have special program audit employees worked with, named Groove and GaMx.
Audit firms have developed their own auditing software, which was used for their audit engagements. Everything was properly linked up (e.g. associate risk to an account assertion) in the software application. In our opinion, the software helps to develop and strengthen the auditing concept if efforts have been spent on understand the audit concept.
For instance, Ernst & Young has developed its auditing & assurance tools, GAMx for its audit engagement.
All files related to the individual client are kept in workspace - GaMx program then after completing the audit procedures, they save final GaMx workspace's backup of client and sent to the archive room.
EY Transactions area assists clients in effective and timely execution of corporate deals. Through tools such as their Global Accounting & Auditing Information Tool (GAAIT), Global Audit Methodology, GAMx and public and proprietary knowledge, Ernst & Young provides assurance services to many organizations. They have established 'IFRS (International Financial Reporting Standards) desks" in each significant country and region, which strive for consistent interpretation through constant communication and consultation between the various desks, engagement teams and clients. Their Global Accounting & Auditing Information Tool (GAAIT) is a multinational GAAP research tool that provides access to global frameworks and the depth of United States standards and authoritative literature needed by many. Their Global Audit Methodology is a broad approach used by their engagement teams worldwide to execute audits. The methodology includes specific guidance on how and why procedures are performed, along with detailed policies regarding parameters in making certain audit decisions. GAMx is an audit support tool that integrates and presents methodology guidance, industry sector knowledge and reference materials in the context of the audit procedure being performed.
Groove® is Internet software for making direct connections with the people who are important to you. With Groove you can talk, chat, instant message, draw pictures, swap photos and files, play games and browse the Web together with friends, family and co-workers, at the same time or whenever one of you has a moment. In Groove, having conversations with context is as easy as sending an email or accessing the Web. Groove runs on Windows® PCs and uses the Internet for communication.
Microsoft Office tool such as MS Excel and MS Word also could be used in EY.
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