Which of the Following Statements Is Wrong Regarding Continuous Audit

question 6

Short Answer

Which of the following statements is wrong regarding continuous audit?
A. Continuous audit is used to perform audit-related activities on a continuous basis
B. Testing in continuous audits often consists of continuous controls monitoring and continuous data assurance
C. Technology plays a key role in continuous audit in analyzing trends and patterns of transactions, identifying exceptions and anomalies, and testing controls
D. Continuous audit is frequently used to perform substantive tests and is used for testing of controls through transactional-data analysis

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Definitions:

Customer Support Records

Documentation that captures all interactions between a business and its customers, aimed at providing assistance and resolving issues.

Competitive Intelligence

The gathering and analysis of information about competitors and the business environment to support strategic decision-making.

Foreknowledge

Prior knowledge or awareness of an event or situation before it happens, often based on experience or intuition.

Upcoming Promotions

Planned marketing activities or sales incentives that are scheduled to take place in the near future to boost demand or awareness for a product or service.