1. All of the following describe the continuous auditing EXCEPT: O Different data formats Automating the repeated tests Reviewing the whole population O Observing events periodically 2. Which of the following is the difference between Continuous Audit and Continuous Monitoring? Whether it provides only independent assurance Whether it visualizes the results Whether it uses automation tools O None of the above 3. Which of the following is NOT a reason auditing need to change? Unnecessary risk and fraud Duplicated systems and applications Excessive audit and compliance costs Unreliable information technology tools None of the above 4. Which of the following description is NOT true about automate audit? O Saving compliance fee Not requiring expert knowledge by all auditors Duplicate detection can occur when data is collected from multiple systems The automation can be performed directly on the database level None of the above, all the descriptions are true 5. Which of the following is a future state of Continuous Auditing/Monitoring? OException Review Real time audit opinions O Work flow automation O Data analysis tools 6. Which of the following is Not true for Continuous Auditing/Monitoring? Continuous auditing allows us to reduce effort in auditing planning cycle Risk is not independent in continuous auditing Continuous auditing may prevent insider trading O Audit team may create rule sets to perform analysis