What is an Audit Hook?

Q: How can Embedded Audit Modules in software be utilized in an audit?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: What are tests of controls? What is the audit team’s goal in performing them in an…

A: Tests of controls: Test of control is performed by the auditor to verify that whether the control…

Q: What’s in an audit?

A: Audit definition -  Audit is an independent examination of financial information of an entity…

Q: In terms of configuration, what function does the audit trail play?

A: Here is the Answer

Q: How to audit PPE?

A: Introduction:- PPE means:- PPE means property , plant, Equipment Which is identified as Fixed asset…

Q: How is Parallel Simulation utilized during an audit?

A: Auditing:   It is the systematic verification of the books of accounts of an organisation by an…

Q: What is the purpose of Access Security Software?

A: Introduction: Access security is a procedure that is implemented into the information technology…

Q: What is keystroke monitoring?

A:

Q: What is an external auditor?

A: Auditor is a person who audits the accounts of the business.

Q: How does Real Time Processing affect an audit?

A: Real-time data processing is the program for running multiple rows and columns of data during a…

Q: What are some advantages of using IT and audit software when conducting an audit?

A: The audit can be defined as the independent examination of internal control, accounting records, and…

Q: Why should test data be saved after it has been used?

A: Test Data: The data which prepared before the conduction of a test to evaluate its results is known…

Q: what is Advantages of the Standard Audit

A: Standard audit The audit conducted based on Generally Accepted Accounting Standards that are issued…

Q: What are c Post-audit Tasks?

A: Post-Audit An audit is a review of a consultant's accounting system, bookkeeping practices, and…

Q: What is Stategic Audit and its elements? explain.

A: Large, heterogeneous corporations organize themselves into divisions to interrupt the management of…

Q: What is an audit trail?

A: The accounting records of an entity are provided in an audit trail. It is used to examine different…

Q: What is Mark-up chain?

A: Introduction: Markup is generally shown as a percentage of the cost or the sale price. The term…

Q: What are Post-audit Tasks?

A: An audit is conducted on the accounting records and financial statements of a firm. The purpose of…

Q: What is an access control list?

A: Access Control List  The list which restricts the access of the objects attached in an information…

Q: What is an attestation engagement?

A: Attestation Engagement: An association between the client and the certified public accountant where…

Q: What is the connection between audit sampling and audit data mining?

A: Audit sampling is the method in which audit procedure are performed on less than 100% data. In…

Q: Define check tampering.

A:

Q: Explain how the magnetic audit trail functions.

A:

Q: When can an audit of IT be performed without directly interacting with the system?

A: Auditing:   It is a systematic verification of the books of accounts of an organisation by an…

Q: What are the categories of processing controls?

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: What is meant by (a) vouching, (b) tracing, and (c) scanning? What is the difference betweenvouching…

A: Vouching: Vouching is a method by which an auditor traces the transactions to its origin. The…

Q: Differentiate Internal Audit from External Audit.

A: Auditing refers to checking books of documents with an intention to express a reasonable opinion on…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: What is skimming?

A: Skimming: It is the fraudulent process under which the employees of the company steal the cash from…

Q: Why might an auditor use a program flowchart?

A: Flowchart:   Flowchart is representation of procedures concerned with the transactions in the…

Q: What is the purpose of physical controls?

A: Internal controls are policies incorporated by the Management to safeguard the assets of the…

Q: what are Audit Assumption

A: Answer: The audit that is conducted is such that there are assumptions made.

Q: What is the purpose of the client’s performance measurementsystem? How might that system be useful…

A: Indicate the purpose of the client's performance measurement system and explain the way in which…

Q: What is the NAV?

A: NAV full form is net asset value The detailed explanation is explained in step 2

Q: what is the procedure used?

A: Journal entry is a basic accounting entry and is the first step in double entry system of…

Q: What are CAATs (Computer-aided audit tools)?

A: CAAT is a technique through which, computer is being used in performing some part of the auditing…

Q: How is the primary key critical in preserving the audit trail

A: Audit Trail:   An audit trail refers to a set of records or destination and source of records that…