Which of the following best describes audit data analytics?

Q: What’s in an audit?

A: Audit definition -  Audit is an independent examination of financial information of an entity…

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: pes of audit confir

A: An audit confirmation is a common test that is performed in the completion of most audits. ... This…

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: How is Parallel Simulation utilized during an audit?

A: Auditing:   It is the systematic verification of the books of accounts of an organisation by an…

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: 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: What are analytical procedures, and why are they a useful audit tool?

A: Analytical procedures are those procedures that are used as a substantive test to obtain evidence…

Q: EXPLAIN AND WHAT KIND OF  RISK ASSESSMENTS   FACING BY AUDITOER OR AUDITING?

A: Risk assessment is a crucial part of the auditing process as it defines which procedures need to be…

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: How can analytical procedures be performed in audit planning?

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

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.