An audit trail is a step-by-step record by which accounting data can be traced to its source. Therefore, Vouching is used primarily to test which of the following assertions about classes of transaction?  Select one: a. Accuracy.  b. Completeness. c. Cut-off d. Occurrence

Q: Evaluating data reliability is a critical part of the audit process. Explain the differences among…

A: Reliability of data in an audit environment refers to the extent to which the data are usable for…

Q: Which of the following best describes audit data analytics?

A: Audit data analysis refers to examining and evaluating large sets of data in the context of an…

Q: Answer the question below: Please include atleast one reference 1: Explain Audit data analytics in…

A: Audit Data Analytics means reviewing audit-related information by using technology. Large files or…

Q: From an IT audit perspective, Business Continuity Plan (BCP) completeness reflects the current state…

A: Evaluating a Business Continuity Plan's (BCP) completeness is a crucial component of an IT audit.…

Q: All the supporting documents such as PO, vendor's invoice are attached to the voucher" is one of the…

A: True, All the supporting documents such as PO, vendor's invoice are attached to the voucher" is one…

Q: Which of the following is considered an assurance engagement? Bookkeeping Preparation Compilation…

A: The question is based on the concept of Auditing.

Q: Procedure (b) Audit (а) Туре of Objective Test Example: Compare the quantity and description of…

A: An audit of financial statements is an examination conducted by an independent auditor on the…

Q: What steps of independent verification does the general ledger department perform?

A: The general ledger of an organisation is maintained by the general ledger department. The recording…

Q: Indicate the primary audit objective for the following audit procedure: Determine whether sales…

A: Auditing is the process of examining financial statements, records, and other financial information…

Q: Once risks are identified, auditors assess the risk of material misstatement at the _______ level…

A: Solution: Once risks are identified, auditors assess the risk of material misstatement at the…

Q: A key internal control over the acquisition cycle is to ensure that the company requires recording…

A: Solution: A key internal control over the acquisition cycle is to ensure that the company requires…

Q: What is the primary key's role in ensuring the audit trail is maintained

A: This question explains about the primary key's role in ensuring the audit trail is maintained.

Q: Which assertion is most likely being tested when an auditor vouches transactions from the sales…

A: In auditing and financial reporting, an assertion refers to a representation or statement made by…

Q: b. Existence and completeness objectives. c. Existence, realisable-value and accuracy o

A: The right answer is c. Existence, realizable-value and accuracy objectives.

Q: Evaluating data reliability is a critical part of the audit process. Explain the differences among…

A: Answer:-  Audit:- Audit is the systematic examination of the financial statements of the company.…