One of the Steps in the Five Step AICPA Process

question 83

Multiple Choice

One of the steps in the five step AICPA process to follow when planning, performing, and evaluating results from audit data analytics (ADA) is _______.

• A)consider the relevance and reliability of the data used
• B)prepare a suitable population and representative sample
• C)pass the results to management for analysis and evaluation
• D)consideration of internal control

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Definitions:

Surplus

An excess of something, such as goods, services, or resources, beyond what is needed or used.

Balance of Trade

The difference in value between a country's imports and exports over a certain period.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a country's economy and trade balance.

Deficit

An economic condition where expenditures exceed revenue.