Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Question
Chapter 6, Problem 3DQ
To determine
Provide a comparison between the predictive and prescriptive analytics. Also, explain how these might be used in an audit or a continuous audit.
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Students have asked these similar questions
The audit team is currently debating whether they should be using static or dynamic reports. Which phase are they most likely in?
a. Perform the Analysis
b. Master the Data
c. Share the story
d. Ask the Question
What are analytical procedures? Describe how they can be used assubstantive tests in an audit.
how many types of Analytical Procedures in auditing?
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- idetify and explain the 3 main uses of analytical procedres during the auditarrow_forwardIn which stage of audit the audit program will be created ? a. Fieldwork b. Reporting c. Planning d. Followuparrow_forwardIdentify three different diagnostic analytics that are used in an audit setting and describe how they can help decision makers.arrow_forward
- 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.arrow_forwardWhat challenges do auditors face when using big data, data analytics and new technologies during an audit?arrow_forwardAn audit procedure that involves taking a sample of recorded transactions and obtaining original source documents supporting the recorded transactions is referred to as what? a. vouching b. directional testing c. a walk-through d. tracingarrow_forward
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