IMG_3781

Select one method an auditor can use to audit through the computer system. Explain how the method works, any risks associated with the method, and how you would justify using the method from a cost-benefit perspective.

Briefly provide your opinion whether an auditor wishing to assess the adequacy of separation of functions examine a data flow diagram or system flowchart. Why.

Which assertion is most likely being tested when an auditor vouches transactions from the sales Journal to the sales orders? a. cutoff b. rights c. completeness d. accuracy

In terms of effectiveness and efficiency of operations, as well as of meeting the generic information system control goals of validity, completeness, and accuracy, what are the arguments for and against each of the following? Sending a copy of the vendor invoice to the purchasing department for approval of payment. Sending a copy of the vendor invoice to the requisitioning department for approval of payment.

Outline the advantages of utilizing audit software in an audit of    Discuss the potential challenges that may arise during an audit and for each challenge, propose a solution to overcome it.

The auditing assesses the reliability and sufficiency of the information through _____________ a. Comparison b. Testing c. Evaluation d. Judgement

(Audit) When we are looking for completeness how do we match them up?

What is the purpose of the client’s performance measurementsystem? How might that system be useful to the auditor?

Evaluating data reliability is a critical part of the audit process. Explain the differences among the following in terms of reliability: Data from internal versus external sources.

Who will benefit from an audit strategy memo? Is there anything specific that needs to be included?

Explain the terms 'audit software' and 'test data' and list the advantages of using CAATs in an audit.

Compare and contrast the difference between the retrospective analytics approachand the predictive analytics approach to data analytics.

Evaluating data reliability is a critical part of the audit process. Explain the differences among the following in terms of reliability: Data obtained from direct versus indirect methods.

What steps should auditors take if the client has multiple locations being counted?

What should be the major emphasis in auditing the retainedearnings account? Explain your answer.

When searching for the root cause of issues, auditors are effectively searching for the source of variation, which are often grouped into categories, which categories is not included. a. machines b. measurements c. system d. people

Reliability means that data are reasonably complete and accurate. Accuracy refers to the extent that recorded data reflect the actual underlying information. In this regard which of the following is the suitable example of reliability of the data? O a. Information may be more reliable when it is obtained from dependent sources outside the entity O b. Information may be more reliable when it is obtained from independent sources outside the entity O c Information may be more reliable when it is obtained from the management of the entity O d. Information may be more reliable when it is obtained from engagement team members

1. Data under a traditional ledger system is authenticated by a central authority while data under a blockchain is authenticated through Select one: a. central authority. b. a party outside the blockchain. C. mass collaboration. d. an external audit. 2 Analyzing data with the purpose of determining a casual relationship refers to Select one: a. predictive analytics. b. descriptive analytics. c. diagnostic analytics. d. prescriptive analytics. 3. Which of the following items is not an application of blockchain? Select one: a. joining ERP systems from multinational subsidaries. b. continual updating of real-time data on customer preferences. C. continual updating of financial statements with new transactions. d. joining ERP systems from different companies.

Explain the definition of the audit expectation gap? Then, discuss some approaches to reducing the expectation gap.