Using Microcomputers in Auditing May Affect the Methods Used to Review

question 402

Multiple Choice

Using microcomputers in auditing may affect the methods used to review the work of staff assistants because:

• A) The audit fieldwork standards for supervision may differ.
• B) Documenting the supervisory review may require assistance of consulting services personnel.
• C) Supervisory personnel may not have an understanding of the capabilities and limitations of microcomputers.
• D) Audit documentation may not contain readily observable details of calculations.

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Definitions:

Discouraged Workers

Individuals who are not actively seeking employment due to believing that no jobs are available for them or there are none for which they would qualify.

Unemployment Insurance

A government-provided benefit offering temporary financial assistance to workers who have lost their jobs through no fault of their own.

Deflation

A decrease in the general price level of goods and services in an economy over a period, leading to increased purchasing power of the currency.

Disinflation

A reduction in inflation rate, signifying a deceleration in how quickly the costs for goods and services increase.