With reference to CAATs, explain briefly: (i) The test data technique. (ii) Three types of audit software.
Question:
With reference to CAATs, explain briefly:
(i) The test data technique.
(ii) Three types of audit software.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
i The Test Data Technique The Test Data technique is a type of Computer Assisted Audit Technique CAAT C which involves processing a set of dummy data ...View the full answer
Answered By
Jeff Omollo
As an educator I have had the opportunity to work with students of all ages and backgrounds. Throughout my career, I have developed a teaching style that encourages student engagement and promotes active learning. My education and tutoring skills has enabled me to empower students to become lifelong learners.
5.00+
5+ Reviews
50+ Question Solved
Related Book For
Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
Question Posted:
Students also viewed these Business questions
-
1. A local area network (LAN) is best described as a(n): a. Computer system that connects computers of all sizes, workstations, terminals, and other devices within a limited proximity. b. System that...
-
With reference to CAATs, explain briefly; (i) The test data technique, This involves the auditor inputting dummy data into a clients system to see that it processes it as required and produces the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
A 0.500-kg block, attached to a spring with length 0.60 m and force constant 40.0 N/m, is at rest with the back of the block at point A on a frictionless, horizontal air table (Fig. 7.44). The mass...
-
For what use are batteries connected in series? For what use are they connected in parallel? Does it matter if the batteries are nearly identical or not in either case?
-
Calculating costs for a customer order (Learning Objective 4) Hermiston Food Processors in Hermiston, Oregon, processes potatoes into French fries. Production requires two processes: cutting and...
-
During 20x7, Dasbol Corporation engaged in two complex transactions to improve the businessselling off a division and retiring bonds. The company has always issued a simple single-step income...
-
Sharpton Fabricators Corporation manufactures a variety of parts for the automotive industry. The company uses a job-order costing system with a plantwide predetermined overhead rate based on direct...
-
Government G levies an income tax with the following rate structure: Percentage RateRequired:Q . Taxpayer A ' s taxable income is $ 1 6 5 , 9 0 0 . Compute A ' s income tax liability and average tax...
-
List five ways in which CAATs may assist the auditor during an audit engagement.
-
Explain briefly why probability proportional to size (PPS or monetary unit) sampling can be referred to as a hybrid of attributes and variables sampling.
-
In 1946, the lowest price of a World Series ticket was $1.20. By 2012, the lowest price of a ticket had increased to $110. Find the average rate of change in the lowest price of a World Series ticket...
-
Assume that the cost formula for one of a company's mixed expenses is $10,000+ $4.00 per unit. The company's planned level of activity was 2,000 units and its actual level of activity was 2,200...
-
You are given information on five adjacent corner portfolios on the minimum-variance frontier. Each corner portfolio is constructed from four underlying risky asset classes. The risk-free rate is...
-
A recipe for baked stuffed potatoes calls for 6 potatoes and yields 12 servings. If the yield percent for the potatoes is 81% and 1 potato weighs 5 ounces, how many pounds of potatoes will you need...
-
How are large and small police departments similar? How are they different? The purpose of this assignment is to have the student list the similarities and differences between large and small police...
-
the Delta 191 crash at DFW in the summer of 1985. This accident was the microburst eye-opener on the northeast side of the DFW airport. More remarkable was an isolated afternoon thunderstorm caused...
-
There are several methods used by people to organize their lives in terms of keeping track of appointments, meetings, and deadlines. Some of these include using a desk calendar, using informal notes...
-
In what ways does a well-designed enterprise search software vary from popular search engines (e.g., Bing, DuckDuckGo, and Google)?
-
If a firm were interested in estimating the distribution of income in the state of California, how could it proceed? Be specific.
-
If a firm were interested in estimating sand and clay production in Georgia, how could it proceed? Be specific.
-
Explain why a company might want to do focus group interviews rather than individual interviews with the same people.
-
Google's AdWords division incurs various costs associated with different activities. For a specific quarter, the total costs for keyword research activities amount to $500,000, and the total costs...
-
Try to answer the following questions: 1 . Brown Corp purchased an $ 8 2 0 , 0 0 0 equipment on Oct 1 2 0 2 0 . The company estimates that the equipment has a useful life of 1 0 years and a salvage...
-
Journal entry worksheet 1 2 3 4 5 6 On April 2 , the company prepaid $ 1 0 , 8 0 0 cash for twelve months' rent for office space. Prepare the required adjusting entry, if any. Note: Enter debits...
Study smarter with the SolutionInn App