J.A. Akinyemi and S.A. Ehikioya (Canada)
Formal Methods, Specification, Predicate Logic, Financial
Audit System, Trust, Auditing.
Past failures in the process of auditing financial transac
tions have serious consequences on businesses. These fail
ures result in the collapse of companies, and loss of jobs
and money. Therefore, there is need to regain the trust
required in the financial system. We need a process that
correctly and completely builds accountability and trans
parency into auditing financial transactions. Also, the pro
cess should adequately verify all audit processes.
This paper presents a formal specification of the fi
nancial audit system requirements. We formalize the au
dit system requirements with Predicate Logic, and leverage
predicate logic's soundness, completeness, proof and veri
fication, and expressiveness capabilities.