Four Methods That Are Used by Audit Teams to Test

question 93

Short Answer

Four methods that are used by audit teams to test the operating effectiveness of controls include inquiry,observation,documentation examination,and ______________________

---

Definitions:

Time Series

A sequence of data points typically measured and recorded at uniform time intervals.

Intensity

The quality of being intense; often used to describe the strength or magnitude of a variable or phenomenon.

Centered Moving Average

A method used in time series analysis to smooth out short-term fluctuations and highlight longer-term trends or cycles by averaging data points centered around a point.

Liquor Sales

The total volume or financial value of alcoholic beverages sold over a specific time period, often used as an economic indicator.