DATA ANALY ACCT + CONNECT LL
1st Edition
ISBN: 9781266167867
Author: RICHARDSON
Publisher: MCG/CREATE
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Question
Chapter 6, Problem 3DQ
To determine
Provide a comparison between the predictive and prescriptive analytics. Also, explain how these might be used in an audit or a continuous audit.
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1: Explain Audit data analytics in risk assurance
how many types of Analytical Procedures in auditing?
What are analytical procedures? Describe how they can be used assubstantive tests in an audit.
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- What additional audit analytics can be used to enhance the dashboard?arrow_forwardThe audit team is currently debating whether they should be using static or dynamic reports. Which phase are they most likely in? a. Perform the Analysis b. Master the Data c. Share the story d. Ask the Questionarrow_forwardExplain the terms 'audit software' and 'test data' and list the advantages of using CAATs in an audit.arrow_forward
- The auditing assesses the reliability and sufficiency of the information through _____________ a. Comparison b. Testing c. Evaluation d. Judgementarrow_forwardExactly what is the advantage of using Generalized Audit Software during an audit?arrow_forward2. How do you measure risk in an audit engagement?arrow_forward
- In which stage of audit the audit program will be created ? a. Fieldwork b. Reporting c. Planning d. Followuparrow_forwardAn audit procedure that involves taking a sample of recorded transactions and obtaining original source documents supporting the recorded transactions is referred to as what? a. vouching b. directional testing c. a walk-through d. tracingarrow_forwardHow is the audit risk model used to plan the audit?arrow_forward
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