A Common Software-Based Audit Technique Involves _______

question 58

Multiple Choice

A common software-based audit technique involves _______.

• A)requesting management complete flowcharts and questionnaires related to the audit
• B)submitting certain test data into the client's software application while the auditor is in control of the software
• C)allowing the internal auditors access to the external auditor's software application in order to assist with the audit
• D)deleting client files and transactions to ensure that the client's software appropriately alerts the correct staff

---

Definitions:

Other Than Temporary

Classification of impairments or losses indicating that the reduction in value is not expected to reverse in the near future.

Held To Maturity

A classification for investments in debt securities that the company has the positive intent and ability to hold until they mature.

Carrying Value

The book value of an asset or liability on a company's balance sheet, after accounting for depreciation, amortization, or impairment.

Held-To-Maturity

A classification for investment securities which the investor has the intent and ability to hold until they mature.