Which of the Following Statements Is Wrong Regarding Continuous Audit

question 20

Multiple Choice

Which of the following statements is wrong regarding continuous audit?

• A) Continuous audit is to perform audit-related activities on a continuous basis
• B) Testing in continuous audits often consists of continuous controls monitoring and continuous data assurance
• C) Technology plays a key role in continuous audit in analyzing trends and patterns of transactions, identifying exceptions and anomalies, and testing controls
• D) Continuous audit is frequently used to perform substantive tests and is used for testing of controls through transactional-data analysis

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Definitions:

Discrete Data

Data that can only take specific values within a given range, often representing countable items or categories.

Continuous Data

Data that can take any value within a given range or interval and can be measured with arbitrary precision.

Metrics

Quantifiable measures used to track and assess the status of a specific business process or activity.

Discrete

Discrete refers to a type of data or variable that can take on a finite number of values and is countable, such as the number of students in a class.