Which description of RPA is most accurate?

a- RPA is no different from traditional automation tools.

b- RPA is an overlay that sits on top of traditional automation tools.

c- RPA can deal with tasks that involve loose or complex decision rules.

d- RPA is invasive to the existing systems.

What types of tasks can PA be used to perform?

Tasks that involve unstructured data such as natural language, images, and videos.

Tasks that require complex decisions with a high level of cognitive judgments.

Tasks that are definable, standardized, structured, and rule-based.

Tasks that involve advanced data analytics.

What types of tasks can RPA automate?

A- Structured tasks.

B- Unstructured tasks.

C- Ad hoc tasks.

Semi-structured tasks.

What RPA limitation does IPA not address?

A- Processing unstructured data.

B- Processing of exceptions.

C- Ideating and implementing new process workflows.

D - Assisting with complex judgments that are repetitive.

Natural language processing (NLP) combined with RPA can facilitate

A- Analysis of client discussions and completion of audit templates for control risk assessment.

B- Development of account projections.

C- Analysis of financial data for fraud risk assessment.

Test of details.

Sensors that are connected to the internet can radically transform the enterprise. Which is more likely to have a direct impact on financial statements?

Remotely monitoring a patient's vital signs with a Fitbit.

B- Detecting misappropriation of assets with radio-frequency identification (RFIDs) or WiFi.

C- Conducting site inspections with drones.

D- Using RFIDs to lower inventory carrying costs.

Which does not appropriately describe digital transformation?

A- Digital transformation means using technologies to radically change how an enterprise performs.

B- The technologies that enterprises can leverage for digital transformations can be RPA, IPA, Internet of Things, Al, and so on.

C- Audit is not required to embrace digital transformation even though it is being implemented at clients.

D- Digitization of clients lays the foundation for audit automation.

Which is most accurate regarding the types of audit task?

A- There are generally three types of audit tasks: structured, semi-structured, and unstructured.

B- All audit tasks are automatable.

C- The task of fair value estimation is structured.

D- RPA cannot be used for automated structured audit tasks.

Which is accurate regarding an "auditor-in-the-loop" PA ecosystem?

A- IPA will automate different types of audit tasks to different degrees and leave the auditors with the easiest tasks with which to deal.

B- Auditors will still be needed even though all work will be automated.

C- When Al and cognitive computing are not able to make a confident decision, the task will be forwarded to the auditor to deal with.

D- In the "auditor-in-the-loop" IPA ecosystem, the auditors work independently of the automation tools to achieve the best performance.

In facing the future trends of audit automation, what are CPA's expected to do in order to remain competitive in the profession?

A- Gain in-depth analytical skills such as programming, modeling, and visualization.

B- Be experts in disruptive technologies such as AI, IPA, and blockchain.

C- Implement IPA on all engagements.

D- Cultivate personal skills, especially cooperation, communication, and leadership.

What is a potential benefit of big exogenous data, for example, external nonfinancial information?

A- It is difficult to access.

B- It is likely to be tampered with.

C- It is structured.

D- It may complement many current procedures.

What is the "thinking blockchain"?

A- Smart contracts on the blockchain that analyze structured data.

B- The concept of a blockchain evolving through Al.

C- Smart contracts on the blockchain that analyze structured and unstructured data

D- Pairing a "thinking" human with a blockchain contract to identify exceptions.

What could be facilitated by combining predictive analysis with RPA?

A- Test of details.

B- Analvsis of fraud risk assessment.

C- Development of account projections.

D- Analysis of client discussions and completion of audit templates for control risk assessment.