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Which of the following is true of generalized audit software packages? A) They can be used...
______ is multipurpose software that can be used for general purposes such as record selection, matching,...
______ is multipurpose software that can be used for general purposes such as record selection, matching, recalculation, and reporting. Continuous audit software (CAS) Utility software Generalized audit software (GAS) Test audit software (TAS) An auditable entity has an internal control significance of 0.25 and the likelihood of an internal control weakness score of 0.80. We have assumed here that internal audit has taken no steps to see if the weakness were corrected. Rounded to two decimals, the entity would receive...
1. Which of the following are the established criteria against which management's assertions are judged in...
1. Which of the following are the established criteria against which management's assertions are judged in an audit? a- Generally Accepted Accounting Principles - Generally Accepted Auditing Standards C- Consistently Reported Accounting Procedures d- Fairness in application of accounting principles 2. Which of the following criteria is unique to the auditors assurance function? a. General competence b- Familiarity with the particular industry of which the client is part C- Due professional care d- Independence 3. Independent auditing can best be...
Which of the following statements about audit trails is true? a. Unlike most internal controls, the...
Which of the following statements about audit trails is true? a. Unlike most internal controls, the audit trail can be established and implemented by management b. An audit trail is a control that needs a description of only the source documents that are currently being used to record transactions c. SOX 404 requires the disclosure of audit trail procedures in the internal control report d. Audit trails are useful as detective controls because they help the user(s) uncover whether financial...
DQ1. What is an Audit Work Program (some call it Audit Program)? The audit work program...
DQ1. What is an Audit Work Program (some call it Audit Program)?
The audit work program - Email Surveillance Audit Program – What is
the structure and contents including various audit steps. Find 1-2
steps in the audit program where the audit software can be used.
How can audit software be used to gather evidence?.
(the Audit program (Email Surveillance Audit Program
details is attached).
DQ3. Review the contents of the Audit Manual of Office of
University Audits at University...
Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the...
Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the auditor to verify manual controls within the software application are functioning as designed -may corrupt the client's system, and should not be attempted -will allow the auditor to verify that the software application is functioning as designed -should be performed without the knowledge of the client's senior management Question 19 The tolerable deviation rate _______. -relates to how many immaterial misstatements the auditor finds...
a. Appropriate accounting and auditing research requires adequate technical reference materials. Each firm professional has online...
a. Appropriate accounting and auditing research requires adequate technical reference materials. Each firm professional has online password access through the firm's Web site to electronic reference materials on accounting, auditing, tax, SEC, and other technical information, including industry data The partners accept responsibility for leading and promoting a quality assurance culture within the firm and for providing and maintaining a quality assurance manual and all other necessary practical aids and guidance to support engagement quality b. c. Each office of...
___________ is the extent to which an observed effect or outcome can be generalized to another...
___________ is the extent to which an observed effect or outcome can be generalized to another setting or population. It addresses the question will I get the same results if I repeat the intervention in a different setting, at a different time, with a different facilitator? Internal validity Maturation External validity Participant attrition Flag this Question Question 22 The __________ represents all of the elements (e.g. individuals, items, objects) whose characteristics are being studies in an evaluation. Population Sample Control...
The limitations of an audit are NOT caused by ________. A. the nature of financial reporting....
The limitations of an audit are NOT caused by ________. A. the nature of financial reporting. B. the nature of audit procedures. C. the need for the audit to be conducted within a reasonable period of time at a reasonable cost. D. a guarantee that the financial statements are free from error 2.5 points QUESTION 4 In an unqualified audit report on the financial statements of a public company, ACC562what does the first statement of the opinion paragraph state? A....
(The following information applies to the questions displayed below) Research Triangle Software Innovations is a software...
(The following information applies to the questions displayed below) Research Triangle Software Innovations is a software solutions company specializing in enterprise resource planning (ERP) business management software. Located in the Research Triangle Park, North Carolina, high-tech area, Research Triangle Software Innovations is a leader in ERP software. Oak Manufacturing is located in Raleigh, North Carolina. Oak is a publicly owned company that produces oak barrels for flavoring and storage of wine products. As the largest company of its kind in...
Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments.B. Recurring operating losses that may indicate going concern problems.C. Evidence of a lack of objectivity by those responsible for accounting decisions.D. Management's current plans to reduce its ownership equity in the entity. 2. After obtaining an understanding of internal control and arriving at a preliminary assessed level...
1. Which of the following are the established criteria against which management's assertions are judged in an audit? a- Generally Accepted Accounting Principles - Generally Accepted Auditing Standards C- Consistently Reported Accounting Procedures d- Fairness in application of accounting principles 2. Which of the following criteria is unique to the auditors assurance function? a. General competence b- Familiarity with the particular industry of which the client is part C- Due professional care d- Independence 3. Independent auditing can best be...
DQ1. What is an Audit Work Program (some call it Audit Program)?
The audit work program - Email Surveillance Audit Program – What is
the structure and contents including various audit steps. Find 1-2
steps in the audit program where the audit software can be used.
How can audit software be used to gather evidence?.
(the Audit program (Email Surveillance Audit Program
details is attached).
DQ3. Review the contents of the Audit Manual of Office of
University Audits at University...
a. Appropriate accounting and auditing research requires adequate technical reference materials. Each firm professional has online password access through the firm's Web site to electronic reference materials on accounting, auditing, tax, SEC, and other technical information, including industry data The partners accept responsibility for leading and promoting a quality assurance culture within the firm and for providing and maintaining a quality assurance manual and all other necessary practical aids and guidance to support engagement quality b. c. Each office of...
(The following information applies to the questions displayed below) Research Triangle Software Innovations is a software solutions company specializing in enterprise resource planning (ERP) business management software. Located in the Research Triangle Park, North Carolina, high-tech area, Research Triangle Software Innovations is a leader in ERP software. Oak Manufacturing is located in Raleigh, North Carolina. Oak is a publicly owned company that produces oak barrels for flavoring and storage of wine products. As the largest company of its kind in...
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