Answered: Explain the following: Include atleast…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Explain the following: Include atleast two references

A: The significance of audit data analytics

B: Audit standards and data analytics

Expert Solution

Step 1

Introduction to Audit & Assurance

Audit is an independent examination of books of accounts for a particular period (i.e. a Particular financial year) in order to express opinion/give comfort to the shareholders/members of the company/organization on the subject matter of financial statements which is extracted from books of accounts for a particular period.

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