Once the Auditor Has Planned the Application of Audit Data

question 74

Multiple Choice

Once the auditor has planned the application of audit data analytics, the auditor should _______.

• A)access the data, make a copy of the client's data, and prepare the data for analysis
• B)seek the approval of management with respect to the tests
• C)determine how much these procedures will increase the cost of the audit and advise management accordingly
• D)access the data and prepare the data for the internal auditors to review

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Definitions:

Performance Management

A systematic process by which an organization involves its employees in improving effectiveness and achieving organizational goals.

Phased Retirement

Gradual phase-in to retirement without loss or reduction of pension benefits.

Retiring Employees

Individuals who leave their jobs and cease to work typically due to age or health reasons, entering a period of retirement.

Occupation

A person's regular employment or profession, which is often used to identify one's role in society or the economy.