Auditing Has Been Mentioned Throughout the Textbook, Particularly Regarding the Federal

question 35

Essay

Auditing has been mentioned throughout the textbook, particularly regarding the federal mandates imposed by Sarbanes-Oxley. How can technology help improve the auditing process?

---

Definitions:

Required Rate

The minimum annual percentage return that an investment must earn to be considered acceptable to an investor, also known as the required rate of return.

Marginal Tax Rate

The percentage of tax applied to your income for each tax bracket in which you qualify, essentially the rate at which the last dollar of income is taxed.

Depreciation

The allocation of the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Fixed Costs

Costs that do not change with the level of production or sales activities within a certain range or period of time, such as rent, salaries, and insurance.