Before Using Client Data for Audit Data Analytics the Auditor

question 59

Multiple Choice

Before using client data for audit data analytics the auditor needs to consider which of the following?

• A)If the data obtained from the client is complete.
• B)If the data is in a consistent format and whether it needs to be cleaned before it can be used.
• C)Whether the data is relevant and reliable.
• D)All these answer choices are correct.

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Definitions:

Administrative

Pertaining to the activities involved in the management, governance, or organization of a business, typically those responsible for enforcing policies and making decisions.

Operating Expenses

Costs associated with running a business's core operations on a day-to-day basis, excluding the cost of goods sold.

Product Costs

Costs that are directly associated with the production of goods, including materials, labor, and manufacturing overhead.

Product Costs

All costs incurred to acquire or produce a product that is intended for sale, including direct materials, direct labor, and manufacturing overhead.