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

---

Definitions:

Real GDP

The calculation of a nation's economic production taking into account adjustments for variations in prices and inflation, revealing the actual value of goods and services generated.

Percentage Change

A mathematical calculation that represents the degree of change over time as a proportion of the original value, often used to measure growth or decline.

GDP Deflator

A gauge for pricing of all new, native-produced, conclusive goods and services within an economy, applied to revise nominal GDP in order to compute real GDP.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a specific period in real terms.