ACL Is a Software Package Which Assists Auditors by Performing

question 28

True/False

ACL is a software package which assists auditors by performing tests on a client's electronic data.

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Definitions:

Internal Failure Costs

Costs that are incurred as a result of identifying defective products before they are shipped to customers.

External Failure Costs

Costs that occur after a product has been delivered to the customer and a defect has been found, including returns, repairs, and warranty claims.

Incentive Compensation

A form of payment designed to motivate and reward employees beyond their regular pay, based on their performance.

Balanced Scorecard Performance Measures

A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.