When Using the Test Data Approach

question 13

Multiple Choice

When using the test data approach,

• A) auditors process test data supplied by the client.
• B) auditors often obtain assistance from a computer audit specialist.
• C) the tests must be performed at the end of the year.
• D) the test data must remain in the client's records.

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Definitions:

Contract Mistakes

Errors made by one or more parties that can affect the validity and enforceability of a contract.

Constructive Trust

A trust inferred by the courts to benefit a third party to a contract.

Misrepresentation Remedies

Legal solutions available to someone who has suffered loss due to false statements, including rescission of contract or damages.

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Contemporary commercial activities characterized by innovations, digital processes, and new operational models.