The University of Edinburgh -
Division of Informatics
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MSc Thesis #92120

Title:The Expert Aof: a Rule-Based Expert System for Audit Opinion Formation
Authors:Hegazy,MA
Date: 1992
Presented:
Keywords:
Abstract:This paper describes the construction of a prototype expert system for forming an audit opinion on a client financial statements. The theoretical background associated with the different types of audit opinions in Auditing Standards in the UK, USA and in International Auditing Guidelines were studied and analysed. The system's judgement model breaks down the audit opinion formation process into four separate decisions : (1) forming an opinion on whether auditors have obtained and evaluated all evidence reasonably expected to be available, (2) forming an opinion on whether financial statements have complied with Generally Accepted Accounting Principles, (3) forming an opinion on whether financial statements are affected by fundamental uncertainties including going concern uncertainty, and (4) forming an opinion on whether financial statements give a true and fair view of the state of the company's affairs and results of its operations. A rule-based expert system was built as a vehicle for this descriptive research study with the aim to improve the audit opinion formation process. Both the knowledge acquisition techniques as well as the rule-based representation scheme used for the construction of the Expert Audit pinion Formation (The Expert AOF) were described and compared with other techniques used to develop similar systems.
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