Exam 6: Audit Data Analytics

Exploring the details behind the values is referred to as ________ and is an example of ________ analytics.

Sampling is useful when you have manual audit procedures,such as testing transaction details or evaluating source documents.

Identifying the largest or smallest values is referred to as ________ and is an example of ________ analytics.

Which of the following is not an example of descriptive analytics?

Which of the following is the best choice for the unique identifier for each sales order?

Using observations of past actions to predict future actions for similar events is referred to as ________ and is an example of ________ analytics.

Detecting gaps in records and duplicate entries is referred to as ________ and is an example of ________ analytics.

Benford's Law predicts the distribution of first digits.

A sales order ID is a unique identifier for each purchase order.

A customer account ID identifies the customer from whom payment is expected or to whom unused credits have been applied.

Using a rank score to evaluate the strength of classification is referred to as ________ and is an example of ________ analytics.

An auditor will perform predictive analytics before diagnostic analytics.

Artificial intelligence is designed around the idea that computers can learn about action or behavior from the past and predict the course of action for the present.

Which of the following z-scores is likely an outlier that warrants further scrutiny?

A business unit code is used to identify the business unit,region,and branch at the level that financial statements are being reconciled.

Predicting specific dependent values based on independent variable inputs is referred to as ________ and is an example of ________ analytics.

Prescriptive analytics identifies a course of action for the auditor to take based on the actions taken in similar situations in the past.

Once an auditor has a basic understanding of the data,they can then perform diagnostic analytics which look for differences or patterns of interest in the data.

Unaware of data analysis tools available,a sales person frequently processes lunch reimbursements without a receipt between $9.50 − $9.98,which is just below the amount requiring a receipt of $10.An analysis using which of the following would likely (and quickly)identify the salesperson's possible fraudulent behavior.

Which of the following is an example of descriptive analytics?