what is Audit data analytics in external Audit

Q: Why is it important that auditors familiarize themselves with the acquisition and expenditure Cycle

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

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: How is audit strategy mapped out?

A: Audit strategy typically means setting scope, time and direction of an audit. Forming an audit…

Q: Explain Audit data analytics in risk assurance

A: Audit analytics is the analytics of audit data  often through the use of technology. It involves…

Q: What additional audit analytics can be used to enhance the dashboard?

A: 3. Variance Analysis:Budget vs. Actual: Comparing actual performance against budgeted figures to…

Q: How can internal auditors effectively integrate data analytics to enhance audit processes and…

A: An internal auditor is a professional within an association who's responsible for  assessing and…

Q: Explain the following: Include atleast two references A: The significance of audit data analytics…

A: Introduction to Audit & Assurance Audit is an independent examination of books of accounts for…

Q: What does an audit procedures should be applied to Required Supplementary Information?

A: Definition:   Audit report: An audit report refers to the written report issued by an auditor to…

Q: developing and evalueting audit documentation

A: Audit documentation is the way of recording the audit plans, procedures and findings in a working…

Q: Ultimately, is the purpose of an audit trail to follow a transaction from its input through its…

A: Transaction Process System: Transaction process system can be defined as a system designed to…

Q: How must an auditor document understanding of Internal Control?

A: Definition:   Internal control: Internal control is a process which ensures continuous reliability…

Q: Discuss what internal control is in audit and assurance in depth.

A: Internal Control is a set of policies, procedures, and processes designed by an organization to…

Q: How can analytical procedures be performed in audit planning?

A: Analytical procedures:   Analytical procedure refers to a financial audit procedure that helps an…

Q: What is the purpose and used of audit confirmation materials?

A: Introduction:- Audit confirmation is the practice of receiving a direct answer from a third party in…

Q: On March 31, 2020, a calendar-year corporation sold 8% bonds with a face value of $6,000,000. These…

A: Discount on issue can be calculated by subtracting the book value of bonds from bonds payable value.…

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.

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.