Some Key Issues to Consider When Planning an Audit Data

question 101

Multiple Choice

Some key issues to consider when planning an audit data analytics application are:

• A)What financial statement items, accounts or disclosures and related assertions are being audited?
• B)What is the overall purpose of the audit data analytics application and how will it contribute to the balance of the audit? For example, is audit data analytics being used as a risk assessment procedure or as a substantive test?
• C)What audit data analytics tool is best suited for the audit purpose? For example, which techniques, tools, graphics, tables or other analytical techniques should be used.
• D)All these answer choices are correct.

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Definitions:

Cole and Scribner

Researchers who studied the influence of culture on memory and cognition, demonstrating differences in memory strategies between schooled and unschooled populations.

Depth Cues

Visual cues that allow individuals to perceive depth and distance, such as binocular disparity and linear perspective.

Carpentered Environments

Refers to physical spaces that are human-made and characterized by straight lines, right angles, and flat surfaces, influencing perception according to certain psychological theories.

Visual Illusions

Visual illusions are perceptions that differ from objective reality, illustrating how the brain processes visual information.