An Issue Addressed in the AICPA Guide to Audit Data

question 62

Multiple Choice

An issue addressed in the AICPA Guide to Audit Data Analytics is _______.

• A)what to do when initial investigation identifies a large number of notable items
• B)what to do when initial investigation identifies a small number of notable items
• C)how to reconcile data analytics and revenue recognition
• D)how to ensure adherence to matching of revenues and expenses using audit data analytics

Recognize the considerations for reporting on geographical segments.

Acknowledge the significance of reconciling segment information with entity financials.

Understand the criteria and implications of relying on a single major customer.

Recognize the ethical considerations and potential for manipulation in segment reporting.

---

Definitions:

Storage Device

A hardware component used to store digital data, such as hard drives, SSDs, USB flash drives, or memory cards.

Navigating

The process of moving through the content or commands within a software application or website.

Finding

The act of searching or discovering particular information or data within a dataset or document.

USB Flash Drive

A portable storage device that uses flash memory and is plugged into a computer's USB port, allowing for the storage and transfer of data files.