FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Auditors assessment of the risk of material misstatement determines the nature, timing and extent of substantive audit procedures required. Recently the AICPA announced, data analytics

Auditors assessment of the risk of material misstatement determines the nature, timing and extent of substantive audit procedures required. Recently the AICPA announced, data analytics will appear on the CPA exam. Discuss the impact of data analytics in the auditors work. Specifically what implications does data analytics have on audit planning including nature, timing and extent.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Financial Accounting

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

5th Canadian edition

133472264, 978-0133446265, 133446263, 978-0133472264

More Books

Students also viewed these Accounting questions

Question

★★★★★
Clapton Company's sales budget shows the following projections for the year ending December 31, 2017: Quarters First (Jan -March) Second (April June) Third (July-Sept) Fourth (Oct-Dec) Total First...

Answered: 1 week ago

Question

★★★★★
In Exercises 1 and 2, determine whether the statement is true or false. Justify your answer. 1. A line with a slope of 5/7 is steeper than a line with a slope of 6/7. 2. The line through (8, 2) and...

Answered: 1 week ago

Question

★★★★★
The following is an excerpt from The Morning News, Wilmington, Delaware (August 3, 1977): Investigators sift through the debris from blast in quest for the cause [that destroyed the new nitrous oxide...

Answered: 1 week ago

Question

★★★★★
In a hypothesis test for a population proportion what does ????0 represent?

Answered: 1 week ago

Question

★★★★★
Jerome is an elderly man who lives with his nephew, Philip. Jerome is totally dependent on Philips support. Philip tells Jerome that unless Jerome transfers a tract of land he owns to Philip for a...

Answered: 1 week ago

Question

★★★★★
Suppose you are given the following liability cashflow dates and amounts Suppose further that you are given the following assets that are available to you ( where all of them have a face value of $ 1...

Answered: 1 week ago

Question

★★★★★
True or False: Economic life identifies when an asset maximizes its Equivalent Uniform Annual Cost (EUAC). True or False: Probabilities are used to better estimate uncertain future cash flows.

Answered: 1 week ago

Question

★★★★★
Assignment question Sam owns a gift shop which sells a range of gifts, cards and jewellery. Sam prides himself on only sourcing and selling handmade items from independent crafts people. He decides...

Answered: 1 week ago

Question

★★★★★
A company pays an annual insurance premium. On 1 September 20X7 it paid $6,000 for the 12 months ended 31 August 20X8. On 1 September 20X8 it paid $7,200 for the 12 months ended 31 August 20X9. 1)...

Answered: 1 week ago

Question

★★★★★
Make an argument as to why Arnold Schwarzenegger's character in the movie would have a good argument for Fraudulent Misrepresentation. TITLE OF VIDEO: Mexican Turbo Man - Jingle All the Way (FIRST...

Answered: 1 week ago

Question

★★★★★
Based on the information given in the figure, determine the necessary power input to the compressor (Win). Yout=26 kJ/kg P = 600 kPa T2=600 K Air m = 0.02 kg/s P = 100 kPa T = 480 K Win = ?

Answered: 1 week ago

Question

★★★★★
Read the article, "This Map Shows the Scale of the 16th- and 17th-Century Scottish Witch Trials" located in the module resources. When reviewing this article, you may consult the map or the text. As...

Answered: 1 week ago

Question

★★★★★
(a) Cost incurred till 31 March, 2006 Prudent estimate of additional cost for completion Total cost of construction Less: Contract price Total foreseeable loss Rs. 64,99,000 32 01.000 97,00,000...

Answered: 1 week ago

Question

★★★★★
Find an equation of the given line. Slope is -2; x-intercept is -2

Answered: 1 week ago

Question

★★★★★
Which statement is least appropriate? A loss of direction can be the difference between a good audit and a boring report. Demotivated auditors are a problem for audit management even where they do...

Answered: 1 week ago

Question

★★★★★
Which statement is least appropriate? Even where a time monitoring system is in place, there may still be excess hours charged to jobs. This occurs where: a. The budget was not set properly. b. The...

Answered: 1 week ago

Question

★★★★★
Which statement is least appropriate? There are several matters to be considered when designing a performance appraisal scheme, including the following: a. The scheme must in fact address the...

Answered: 1 week ago

Previous Question Next Question