Multiple Choice
A primary advantage of using computer-assisted audit techniques (CAATs) packages to audit the financial statements of a client that uses computerized information systems is that the auditor may
A) Access information stored on computer files even with a limited understanding of the client's hardware and software features.
B) Consider increasing the use of substantive tests of transactions in place of analytical procedures.
C) Substantiate the accuracy of data by using self-checking digits and hash totals.
D) Reduce the level of required tests of controls to a relatively small amount.
Correct Answer:
Verified
Correct Answer:
Verified
Q24: Auditing standards do not require that documentation
Q25: An auditor most likely would review an
Q26: Audit documentation that shows the detailed evidence
Q27: Prior to accepting a new audit engagement,a
Q28: Management is responsible for making the accounting
Q30: Auditors use two kinds of audit plans,one
Q31: Which of the following procedures would most
Q32: An internal control program for understanding the
Q33: Which of the following is not an
Q34: An audit engagement letter should normally exclude