2.   An important characteristic of CIS is uniformity of processing.  Therefore, a risk exists that:       a.   Auditors will not be able to access data quickly.       b.   Auditors will not be able to determine if data is processed consistently.       c.   Erroneous processing can result in the accumulation of a great number of misstatements in a short period Which of time.       d.   All of the above Required:     choose the correct answer and Justify your answers in at least 6 sentences.

Q: Which of the following is not a typical problem found by auditors when cleansing client data for the…

A: Option D

Q: Which of the following is an advantage of computer-assisted audit techniques (CAATs)?a. All the…

A: Answer:   Option b.

Q: Which statement is NOT true? a. Drill-down capability is an OLAP feature of data mining tools…

A: Enterprise Resource Planning: ERP refers to the software of business process management which…

Q: Explain how client internal controls can be improved through the proper installation of IT.

A: Internal controls are defined as the procedures, mechanisms and rules executed through company in…

Q: When the client’s internal control are good, internal documents are more reliable than external True…

A: The question is related to true or false on Auditing.

Q: This audit tool is very useful in alerting or identifying any deviations from normal expectations…

A: An audit tool, in general, is anything that auditors use to accomplish an audit.

Q: Select each attribute with the most directly related term. No term is used more than once.…

A: Audit is the inspection of the accounts of organisation. It is performed by an independent body. The…

Q: You are conducting substantive tests on the accounts receivable file to verify its accuracy. The…

A:

Q: Tests of controls are most likely to be omitted when(1) an account balance reflects many…

A: Option C is correct

Q: Explain how client internal controls can be improved through the proper installation of IT.

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness in the…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Specialists with specialized skills in IT processing are seldom used on audits since each audit team…

A: In a field of auditing, the specific knowledge should be with regard to the auditing standards and…

Q: control risk in order to reduce

A: Statement 1 is correct because by performing additional compliance tests, the auditor can ensure…

Q: When using test data, why are audit teams required to prepare only one transaction to test each IT…

A: Audit test data is used to test the existence and effectiveness of controls built into an…

Q: In which of the following circumstances would an auditor expect to find that an entity had…

A: Definition: Audit: Audit is the process of verification of the compliance of the financial…

Q: ’t these types of controls automatically make a correction in the identified error? Why are…

A: Internal control: Internal control involves the norms and rules which are followed by the company to…

Q: The underlying assumption of reasonable assurance regarding implementation of internal control means…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: A primary advantage of using generalized audit software packages to audit the financial statements…

A: The primary advantage of using a prepacked audit system is determine by the use cases.

Q: Suppose your company has built a database application that runs on a centralized database, but even…

A: Will Be Explained :

Q: Which of the following statements is FALSE? A. Irregularities are intentional misrepresentations…

A: A. An accounting irregularity is an entry or statement that does not conform to the normal laws,…

Q: The internal auditor of a small company has recommended to the CEO that it invest in a disaster…

A: Cloud computing:   In Simple terms, cloud means by which global class, highly scalable and flexible…

Q: Do you agree with the statement, ‘‘The term IT auditor should be considered obsolete because it…

A:

Q: The client’s computerized exception reporting system helps audit teams conduct a moreefficient audit…

A: Answer: b. Highlights abnormal conditions.

Q: Explain how poorly designed audit trail logs can actually be dysfunctional.

A:

Q: When considering the effectiveness of internal control, the auditor should recognize that inherent…

A: SOLUTION- AN INHERENT LIMITATION OF ANY CLIENT'S INTERNAL CONTROL IS THAT CONTROLS CAN BE…

Q: Case Study. You are conducting substantive tests on the Accounts Receivable file to verify its…

A: Auditing:- An audit is considered as physical examination of books of accounts of a company by an…

Q: As lower acceptable levels of both audit risk and materiality are established, theauditor should…

A: Option (1) is Correct : As lower acceptable levels of both audit risk and materiality are…

Q: Auditors of ERP systemsa. need not be concerned about segregation of duties because these systems…

A: Auditors of Enterprise Resource Planning: The responsibility of an auditor is to gather knowledge…

Q: As general IT controls weaken, the auditor is most likely to(1) reduce testing of automated…

A: IT general controls refers to the basic controls that could be applied on the IT systems and…

Q: Which of the following is not a risk specific to CIS environment ?       a.   reliance on the…

A: CIS environment refers to using of Computer in order to perform the processing of the entity, in…

Q: Which of the following is a disadvantage of distributed data processing? a. End-user involvement in…

A: Distributed data processing is a method of computer networking. In this method, several computers in…

Q: The competence (reliability) of audit evidence cannot be improved by testing a larger sample of…

A: Audit Evidence: Audit evidence are the supportive documents of the transaction on the basis of these…

Q: A customer intended to order 100 units of product Z96014 but incorrectly ordered product Z96015,…

A: Definition:

Q: The following are the problems that an Enterprise System is designed to overcome, except O data…

A: Solution: The following are the problems that an enterprise system is designed to overcome: 1. Data…

Q: The increasing use of sophisticated EDP systems has produced significant changes in the accounting…

A: Answer: The introduction of a computerized or electronic data processing (EDP) register has not…

Q: Following are examples of control deficiencies that may represent significant deficiencies or…

A: Whether a deficiency is classified as a significant deficiency or a material weakness is determined…

Q: 7)  In an environment that is highly automated an auditor determines that it is not possible to…

A: Answer- Perform test of controls to support a lower level of assessed risk In an environment that is…

Q: The internal auditor of a small company has recommended to the CEO that it invest in a disaster…

A: Report:The process or the techniques that help in the storing of the data using the internet and…

Q: The software developers of a billing system of ACME Telecom Company would accept at most an error…

A: An invoice is a time-stamped commercial document that itemizes and documents a transaction between a…

Q: Discuss any concerns you would have as an auditor and any actions you would take.

A: Substantive Test: The test that ensures the completeness and validity of the financial statements is…

Q: Question 7 Z scores are:   A. Used to evaluate the quality of imaged files   B. Used to identify…

A: Introduction:- It describes a value's relationship to the mean of a group of values. Z score is…

Q: When searching for the root cause of issues, auditors are effectively searching for the source of…

A: Whenever auditor or management finds out that there are issues in the company. They try to find out…

Q: How can internal auditors use histograms during internal audits?

A: The internal auditors are meant to analyze the business transactions at internal level.

Q: TRUE OR FALSE 1. WHEN OBTAINING AN UNDERSTANDING OF CONTROL ACTIVITIES OF A RELATIVELY SMALL CLIENT,…

A: Auditing is the process of checking and verifying the truthfulness and authenticity of books of…

Q: In a non public audit (AICPA), auditors might chose to not test controls if Select an answer and…

A: As part of audit, it is based on the auditors judgement only to select the appropriate level of risk…

Q: ANC Company has recently acquired new accounting software to replace the old program that is already…

A: Inherent limitation: It states those limitation of audit which are available every time when the…