So auditors belief that an Oracle ERP system gives them confidence in a company audit is misguided.
Cheers
We're required to obtain an understanding of the control environment (so the ERP system in this case), and if we want to rely on its outputs we have to do dedicated testing over it. You're right though that if you do alter one transaction it's probably not going to come up in the audit samples. There's a bit of a gradient though between how much you alter and how much the auditors care, because auditors deal with things on a materiality basis. The more you manipulate the finances, the more material it becomes and the more we care, but also the more likely it will be uncovered. If you're changing a few trivial transactions we more certainly will never uncover it unless you're really unlucky, but then the effects of those trivial transactions is trivial anyways so it's not really a problem.
Oracle/SAP is NOT about whether the system is actually correct.
Oracle/SAP IS about whether the system not being correct is the legal liability of someone else.
> So auditors belief that an Oracle ERP system gives them confidence in a company audit is misguided.
I'm no expert, but I don't think typical auditors are there to find things like that.