Exam 7: Data Analyticsoverview and Application

When using audit data analytics, the balances or transactions that do not meet the auditor's expectations are defined as _______. [[ notable items]] | false positives | high margin items | material misstatements

(Short Answer)

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Question 41

As part of audit data analytics (ADA), any values that are unacceptable variations should be treated as notable items and be investigated further according to the _______ to determine whether their unusual characteristics are acceptable. [[ risk analysis decision tree]] | cluster analysis | polynomial regression decision tree | matching information in key data fields analysis

(Short Answer)

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Question 42

One of the benefits of a regression analysis is _______.

(Multiple Choice)

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Question 43

The initial planning of where to use audit data analytics _______.

(Multiple Choice)

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Question 44

When electronic data is obtained from an outside entity, _______.

(Multiple Choice)

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Question 45

Popular ways that an auditor might search an audit population for notable items include:

(Multiple Choice)

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Question 46

A more complex model of regression analysis will provide worse results if it is not the most suitable model.

(True/False)

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Question 47

A number of substantive tests of details involve _______.

(Multiple Choice)

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Question 48

Some of the risks associated with visualization pertain to _______.

(Multiple Choice)

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Question 49

Advances in the technological landscape _______.

(Multiple Choice)

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Question 50

If the evidence about internal controls does not support a previous conclusion regarding internal controls, the auditor should _______.

(Multiple Choice)

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Question 51

When the auditor is performing audit data analytics (ADA) as a substantive test of details of a population of transactions or balances, the auditor will have evaluated _______.

(Multiple Choice)

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Question 52

When the auditor is performing audit data analytics (ADA) as a substantive test of details of a population of transactions or balances, _______.

(Multiple Choice)

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Question 53

What is the first step in using regression analysis as part of audit data analytics?

(Multiple Choice)

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Question 54

It is common for data problems to arise when the auditor compares data over several years.

(True/False)

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Question 55

When the auditor uses audit data analytics, _______.

(Multiple Choice)

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Question 56

The simplest regression is where _______.

(Multiple Choice)

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Question 57

If the auditor is performing substantive tests at an interim date, _______.

(Multiple Choice)

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Question 58

Before using client data for audit data analytics the auditor needs to consider which of the following?

(Multiple Choice)

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Question 59

As part of an audit data analytics (ADA) procedure, some steps that might be used for regression analysis are:

(Multiple Choice)

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Question 60

Showing 41 - 60 of 114

When using audit data analytics, the balances or transactions that do not meet the auditor's expectations are defined as _______. [[ notable items]] | false positives | high margin items | material misstatements

One of the benefits of a regression analysis is _______.

The initial planning of where to use audit data analytics _______.

When electronic data is obtained from an outside entity, _______.

Popular ways that an auditor might search an audit population for notable items include:

A more complex model of regression analysis will provide worse results if it is not the most suitable model.

A number of substantive tests of details involve _______.

Some of the risks associated with visualization pertain to _______.

Advances in the technological landscape _______.

If the evidence about internal controls does not support a previous conclusion regarding internal controls, the auditor should _______.

When the auditor is performing audit data analytics (ADA) as a substantive test of details of a population of transactions or balances, the auditor will have evaluated _______.

When the auditor is performing audit data analytics (ADA) as a substantive test of details of a population of transactions or balances, _______.

What is the first step in using regression analysis as part of audit data analytics?

It is common for data problems to arise when the auditor compares data over several years.

When the auditor uses audit data analytics, _______.

The simplest regression is where _______.

If the auditor is performing substantive tests at an interim date, _______.

Before using client data for audit data analytics the auditor needs to consider which of the following?

As part of an audit data analytics (ADA) procedure, some steps that might be used for regression analysis are:

Introduction and Overview of Audit and Assurance

Professionalism, Ethics and Legal Liability

Risk Assessment Part Iaudit Risk and Audit Strategy

Risk Assessment Part Iiunderstanding the Client

Audit Evidence

Understanding of the Clients System of Internal Controls

Risk Responseperforming Tests of Controls

Risk Responseperforming Substantive Procedures

Risk Responseaudit Sampling for Substantive Testing

Auditing the Revenue Cycle

Auditing the Purchases Cycle and Payroll Cycle

Auditing Cash, Inventory, Investing and Financing Activities

Completing the Audit

Reporting on the Audit

Filters