The Two Requirements Crucial to Achieving Audit Efficiency and Effectiveness

question 983

Multiple Choice

The two requirements crucial to achieving audit efficiency and effectiveness with a microcomputer are selecting:

• A) The appropriate audit tasks for microcomputer applications and the appropriate software to perform the selected audit tasks.
• B) The appropriate software to perform the selected audit tasks and client data that can be accessed by the auditor's microcomputer.
• C) Client data that can be accessed by the auditor's microcomputer and audit procedures that are generally applicable to several clients in a specific industry.
• D) Audit procedures that are generally applicable to several clients in a specific industry and the appropriate audit tasks for microcomputer applications.

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Definitions:

Downtime

The period during which an asset or system is not operational or productive, often due to maintenance or repair.

Cleanup

The process of making something orderly or presentable by removing or fixing errors, discrepancies, or unnecessary elements.

Standard Cost Card

A document that lists the standard costs associated with producing a specific product or performing a service.

Income Statement

A financial statement that presents the revenues and expenses and resulting net income or net loss of a company for a specific period of time.