When can an audit of IT be performed without directly interacting with the system?

Q: How can Embedded Audit Modules in software be utilized in an audit?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: In terms of configuration, what function does the audit trail play?

A: Here is the Answer

Q: What are the major steps in the audit team’s assessment of control risk in an IT environment?

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

Q: What is meant by data mining, and why must technical analysts be careful not to engage in it?

A: Data mining: Data mining is considered as a process utilized by corporations to turn raw data in to…

Q: What is the audit risk model? Explain the elements of the model

A: Ans. Audit risk refers to the risk that an auditor may issue an unqualified report due to auditor's…

Q: How does Real Time Processing affect an audit?

A: Real-time data processing is the program for running multiple rows and columns of data during a…

Q: What are some advantages of using IT and audit software when conducting an audit?

A: The audit can be defined as the independent examination of internal control, accounting records, and…

Q: How long must audit workpapers be maintained?

A: Definition:   Audit planning: Audit planning includes the designing of audit strategy for the…

Q: Discuss how the process of obtaining IT audit evidence is inherently different than it is in a…

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Q: Why audit is a systematic process?

A: Audit: It is an examination of the financial statements of the company. It helps in determining…

Q: What is the audit team’s objective in obtaining an overall understanding of internal control in…

A: Auditing: The analytical process of evaluating and assessing the accounting information furnished…

Q: How does HanaTour use the data it collects from the audit to increase the security of its data?

A: HanaTour : It is the largest travel company in Korea. The main business of HanaTour is providing…

Q: Discuss how the process of getting IT audit evidence differs fundamentally from the method of…

A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoices andother documents…

Q: Discuss how the process of obtaining audit evidence in a CBIS is inherently different than in a…

A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoice and other documents…

Q: What is lapping? What procedures can auditors employ to detect lapping?

A: Lapping: It refers to a type of accounting fraud that involves the hiding of misappropriated or…

Q: What does auditing around the computer mean versus auditing through the computer? Why is this so…

A: Auditing Around the Computer and Auditing Through the Computer: In auditing around the computer,…

Q: What is an audit, and how does it add to the integrity ofaccounting information?

A: A financial statement displays the financial information regarding an entity. The presented…

Q: How does control risk affect the nature, timing, and extent of further audit procedures?

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Q: What are the benefits of audit planning?

A: Introduction:- Audit Planning play very important role to complete the audit effectively within the…

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: Audit tests and fraud?

A: For any company auditor is appointed to give an opinion on the financial statements, whether they…

Q: Explain the safeguards that can be used to reduce or eliminate threats to audit independence.

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Q: How is the audit risk model used to plan the audit?

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Q: How do management assertions affect the audit?

A: Management assertions are the claims made by the management about the items in the financial…

Q: what information do we need for analytical procedure in auditing?

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Q: Explain how poorly designed audit trail logs can actually be dysfunctional.

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Q: What tests may be conducted for identifying unauthorized program changes?

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Q: If detective controls signal error flags, why shouldn’t these types of controls automatically make a…

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Q: an introduction about the effect of artificial inteligence on audit

A: The on-site verification activity of a process or quality system, such as inspection or examination,…

Q: What is the importance of knowing the Transaction Cycles in Auditing?

A: Audit is a process in which auditors has to find out whether the financial statements are present…

Q: What is lapping?  How can it be detected by an auditor and how can it be prevented?

A: Lapping is an accounting fraud where cash stolen or cash misappropriation is concealed by altering…

Q: Explain why auditing is important in lowering the risk associated with information.

A: Introduction: Auditing is the practice of reviewing a company's internal controls to determine its…

Q: If detective controls signal error flags, why shouldn’t this type of controls automatically make a…

A: Definition:   Internal control: Internal control involves the norms and rules which are followed…

Q: Why might an auditor use a program flowchart?

A: Flowchart:   Flowchart is representation of procedures concerned with the transactions in the…

Q: What is the concept of reasonable assurance? What are the key limitations of an internal…

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Q: What is the ULRD? What information does the ULRD provide to the audit team?

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Q: What is a service organization? Why would it engage an auditor to report on its controls?

A: A process under which a quality system is inspected, examined, and verified to make sure that it is…

Q: Describe how the audit team assesses control risk in an IT environment.

A: Control risk in the audit :           As the name suggests, it is the risk associated with the…

Q: What is check kiting? How might auditors detect kiting?

A: Auditing refers to the process of scrutinizing the financial statement of the business entity and…