A Predicate Logic Foundation for Financial Audit Systems

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.

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