Some Key Issues to Consider When Preparing Data for Audit

question 78

Multiple Choice

Some key issues to consider when preparing data for audit data analytics are _______.

• A)Is the data complete?
• B)Does the data need to be cleaned?
• C)Does the data agree with the general ledger and the financial statements?
• D)All these answer choices are correct.

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Definitions:

Rejection

In statistics, typically refers to the act of rejecting the null hypothesis based on the outcome of a statistical test.

Level Of Significance

Refers to the threshold under which the null hypothesis is rejected in statistical testing, commonly denoted by alpha (α).

Hypothesis Testing

A statistical method that utilizes sample data to evaluate a hypothesis about a population parameter.

Type II Error

The error that occurs when a statistical test fails to reject a false null hypothesis.