Continuous auditing allows auditors to validate data and monitor transactions in near real-time. What advantages does this

Question:

Continuous auditing allows auditors to validate data and monitor transactions in near real-time. What advantages does this provide to auditors? What are some potential problems with continuous auditing?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Information Systems

ISBN: 978-1260153156

2nd edition

Authors: Vernon Richardson, Chengyee Chang, Rod Smith

See More Books

Question Posted: May 28, 2018 02:15 AM

See More Questions

What are some potential problems with ratios?
What are some potential problems associated with job analysis?
What are some potential problems with using anonymous whistle-blowing systems?
The mid-day wind speed, in knots, at a coastal resort is normally distributed with mean 12.8 and standard deviation . a. Given that 15% of the recorded wind speeds are less than 10 knots, find the...
For the period from 1990 to 2030, find and interpret the annual average rate of change of (a) Elderly men in the workforce (b) Elderly women in the workforce. The graph shows the percent of elderly...
View the annual reports of several hospitality companies. How did you find out about how they might be changing their business to fit the environment from their annual report? If you do not have...
1 Mediante el ejemplo de Medtronic: a) explique cmo una de de misin da una directriz estratgica a su organizacin y b) cree una declaracin de misin para su propia carrera.
Quick Dollar Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and merchandise inventory balances. Cash payments on accounts payable...
Ted and his partners have contracted to purchase the franchise nights worth 561 000 to open and operate a specialty pizza restaurant called Popper with a renewable agrement, the partners have agreed...
Norcross Carpet Cleaning (NCC) is a commercial service specializing in maintaining floor coverings in high-traffic areas such as malls and office buildings. The business is highly seasonal, with high...
Match the descriptions with each type of network? Descriptions a. This computer network covers a broad area (e.g., includes any network whose communications link cross metropolitan, regional, or...
When would an auditor prefer to conduct a black-box audit? A white-box audit?
Draw the shear and moment diagrams for the overhangbeam. 4 kN/m B 3m 3m-
According to the College Board website, the scores on the math part of the SAT (SAT-M) in a certain year had a mean of 507 and a standard deviation of 111. Assume that SAT scores follow a normal...
Pay and incentive programs are being used both for knowledge workers and in non-knowledge worker occupations. In every industry, from restaurants to construction and low-tech manufacturing, companies...
Closet International invested in an equipment in 2019 with an initial cost of $598,000. It falls under asset class 8 with a CCA rate of 20%. The equipment was sold in 2021 for $260,000. Calculate the...
Question 4 (30 Marks) A 12-ply Kevlar/Epoxy composite beam with layup [0/90 / 0 1s is loaded in 3-point bending, as shown in Figure Q4. The beam has a length, L of 100mm, a width, b of 25mm and a...
Scenario: You have been working in a community service sector for two years. However, you always find evaluating your own performance challenging. Your Supervisor has also identified that you do not...
Use the test of your choice to determine whether the following series converge. Data from in Root test k=1 k + 2k + 1 3k + 1
The nitrogen atoms in N2 participate in multiple bonding, whereas those in hydrazine, N2H4, do not. (a) Draw Lewis structures for both molecules. (b) What is the hybridization of the nitrogen atoms...
Why is it important to have standards, such as X12 and EDIFACT, when conducting EDI transactions and other forms of e-business? Is there a downside to using standards?
How does Internet EDI differ from traditional EDI in process? In result?
Discuss the benefits of SOAs to the growth of e-business.
ABC company makes turbo-encabulators, customized to satisfy each customers order. They split overhead into five pools, each with its own activity driver (direct labor for manufacturing, direct labor...
Variable manufacturing overhead becomes part of a unit's cost when variable costing is used.Group of answer choicesTrueFalse
Santa Fe Corporation has computed the following unit costs for the year just ended:Direct Material used $23Direct Labor $18Fixed selling and administrative cost $18Variable manufacturing overhead...

Continuous auditing allows auditors to validate data and monitor transactions in near real-time. What advantages does this

Question:

Step by Step Answer:

Advantages i Prevent and catch fraud early ii Reduction of errors iii Catch brea...View the full answer

Accounting Information Systems

Students also viewed these Business questions